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Market expert SP Tulsian positive on this textile stock

Updated : January 21, 2020 04:03 PM IST

Market expert SP Tulsian said on Tuesday Century Textiles stock is capable to give 30-35 percent return in the next 12 months from the current position.  On Tuesday, the share ended at Rs 562.80 on the BSE. "We expect a price level of Rs 750."

SP Tulsian is an equity analyst, a fundamental analyst with more than three decades of experience.

Tulsian told CNBC-TV18: “Century Textiles and Industries has a lot of potential. The stock has risen by about 25 percent in the last couple of months, post our recommendation and we still hold it."

"The stock is capable to give 30-35 percent return from hereon and maybe in next 12 months we expect a price level of Rs 750.”

On Kotak and HDFC Bank, he said: “We gave a sell call when Kotak was ruling at Rs 1,710-1,715 and similar was the sell call for HDFC Bank at Rs 1,300 and now both having corrected by about 6 percent you can't expect these stocks to correct.”

On ICICI Prudential and Granules India’s Q3 numbers, he added: “We like the number of ICICI Prudential Life Insurance Company because the protection and annuity share seem to be going up and the embedded value multiple, now it is ruling at 2.8 against 3.6 of SBI and maybe 5.6-5.7 of HDFC Life and I don’t think there is any kind of complaint seen as protection and annuity share seen increasing in the revenue mix of ICICI Pru.”
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