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Positive on Muthoot Finance and Manappuram, says SP Tulsian


S P Tulsian said that we are positive on Muthoot Finance and Manappuram.

S P Tulsian said that we are positive on Muthoot Finance and Manappuram.
Speaking about Muthoot Finance, Tulsian said, “Results are seen to be good and in fact the management commentary which has indicated that the flood has not impacted much of the business. If you take a valuation call ruling at a P/E multiple of maybe less than Rs 10 is seen to be quite positive.”
“The commentary coming in from the management with respect to the diversification into new business vertical is also well received by the market,” he added.
On Bharat Electronics, Tulsian said, “The stock for 4-6 months has been ruling at its lower end of range, maybe at about Rs 110-115. If you see the order book positions of about Rs 40,000 crore with the company which is giving the visibility of next 3.5-4 years, I do not think that the things are seen to be so expensive even on the present earnings front. All the negatives of the new pricing norms also seems to be factored in the share price.”
“One can give a thought to buy the stock or look at it maybe after two or three days, but as of now the things are not seen too bad nor too comforting,” he added.
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