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SP Tulsian: Good time to buy ICICI Bank and SBI shares, Bata can hit all-time high

Updated : August 05, 2019 16:32:12 IST

Market expert SP Tulsian of sptulsian.com shared his views on the fundamentals of the market and specific stocks and sectors in an interview with CNBC-TV18.

At Rs 300, State Bank of India (SBI) is a buy, said Tulsian. “Two stocks, one is ICICI Bank at Rs 400 and SBI at Rs 300, that seems to be good entry point. One cannot really catch the bottom, but after seeing the results of SBI, I am quite comfortable in buying the stock at Rs 300,” he said.

Tulsian expects the Bata stock to move closer to about Rs 1,450 in the next one month. “The all-time high for Bata was closer to about maybe Rs 1,480 or maybe about closer to Rs 1,500. We initiated a buy call in the morning itself and since then we have been advising.

"However, now share price having moved closer to about Rs 1,400, still you have about 6-7 percent from its peak, it is still giving you a very good comforting view on the stock,” he said.

“We continue to have positive buy call on the FMCG [sector]. The way monsoon is panning out which will further aid [the positive outlook]. If you see the commentary of a few of FMCG promoters or the management, they have all been indicating that going forward things will be better on the volume growth front or maybe on the sales front.

"So that is also seen comforting. So valuations now that these stocks are ruling, still gives you comfort to buy them at current levels,” he added.

On Venky’s Q1 earnings, he said, “Numbers are not seen to be bad. They have returned back to the old level, may not be on the margin front, but the absolute numbers are seen to be quite comforting.”

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
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