Market expert SP Tulsian of sptulsian.com on Thursday said he has a cautious view on InterGlobe Aviation Ltd, which operates India's largest airline, IndiGo, “If I take a pure fundamental call, the stock is looking quite expensive."
Tulsian said, "If you see the corporate governance, a company having a market capitalisation of Rs 65,000-70,000 crore is just having two independent directors and four promoter directors. I do not think that this kind of things can be called as comforting governance."
On Apollo Hospitals, he said, “Pharmacy business cannot be the trigger for the stock prices to move up. So, if you chase the momentum and if you take a daily call and just start riding the momentum, then probably you can burn your hands. Allow the stock to correct to sub Rs 1,400 or maybe Rs 1,350 and then take a call.”
Speaking about Hindustan Unilever (HUL), Tulsian said, "I do not think that one can time the market for these kinds of stocks. So, buy them now only as you see, the GSK Consumer merger is also due. I am expecting that to happen in the next couple of months and that will be seen EPS accretive. I will not be surprised to see HUL positing about Rs 35-36 EPS or maybe Rs 37 EPS for FY21. So, if the stock is available at sub 50 P/E multiple, then that is seen to be good."
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