Any further correction in RBL Bank after having corrected around 40 percent in the last three months would be a matter of concern, stock market expert SP Tulsian of sptulsian.com said.
If the senior executives have exited from the stock, that indicates that more skeletons could come out of the closet going forward, he said. "This is not a bank like State Bank of India where default of a hundred crore by a group will not pinch so much,” said Tulsian in an interview with CNBC-TV18.
When asked about Oberoi Realty and the sharp pullback in the stock from recent lows of Rs 460 to around Rs 536, Tulsian said there seems to be hope that some sops from the government will come for the real estate sector.
Regarding Oberoi Realty, he said the stock had taken a big beating after reports of income tax raids. With hopes of sops coming in, and since the company already has a lot of finished inventory, it could be a value buy after the destruction in went through in the last week, he observed. However, the preference should be for low-priced stocks like Indiabulls Real Estate, Purvankara or Prestige Estates.
Tulsian said it would be difficult to take a positive call on sugar stocks. “The view would remain neutral till we hear any kind of sops coming in for the sugar sector in the form of increased subsidy,” he said.Disclaimer:
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