Stock market guru, SP Tulsian, on Friday said he is negative on Mahindra Holidays & Resorts India Ltd (MHRIL), a listed subsidiary of Mahindra & Mahindra Ltd.
Tulsian said, "This concept seems to be quite good. But if you take a call on Mahindra Holidays, the company has not really rewarded the shareholders. Even some of the members seem to be quite dissatisfied, because of the non-availability. If you really take a call from the shareholders point of view, they have not seen rewarded the stock in the last 4-5 years or maybe since the company went public. So I won’t be taking a positive call on Mahindra Holidays at the current level."
Talking about Sun TV, Tulsian said, "It's difficult to take a call on the Telecom Regulatory Authority of India (Trai) regulations. The stock today is up by about 5 percent. So, this momentum probably will continue maybe for a week or so and you can expect a further about 5-7 percent upside in the stock. Maybe this stock is getting low valuation as it's a regional player. But I think on the valuation parameter it still has the upside potential and one can look for an upside of about 5-7 percent further in the next 8-10 days."
On Piramal Enterprises, he said, “The company has been lending to the real estate sector in a big way, practically all the developers of Mumbai availed the construction finance from Piramal Enterprises and if that comes in, then definitely the acceleration in the repayment or maybe even the demand for credits will start coming in. Piramal Enterprises has been very prudent in granting the finance against the construction or maybe loan against property (LAP), so it will be quite positive for the company."