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Will be wary of taking an investment call on DHFL at the current level, says stock analyst SP Tulsian

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Stock market expert SP Tulsian of sptulsian.com on Wednesday said he will be wary of taking an investment call on DHFL at the current level.

Stock market expert SP Tulsian of sptulsian.com on Wednesday said he will be wary of taking an investment call on Dewan Housing Finance Corporation Ltd (DHFL) at the current level after mortgage lending firm has been defaulting on a number of debt repayments.
Tulsian said DHFL is showing many uncertainties and investors have burned their fingers on Jet Airways after similar assurances were given by the State Bank of India (SBI).
"We have been keeping positive bias on Aurobindo Pharma. However, if you see the negative news flow, which we have been seeing for the last couple of months, it is continuously beating the stock down. In fact, pharma is totally out of level and I don’t think that anyone is really keen to buy any of the pharma stocks. We have been giving select buy call on Aurobindo Pharma, Biocon, and Divi's Laboratories. But if you see the price pattern for all the stocks, they have been taking a beating largely as there is no clarity going ahead," he said.
"The IDFC Frist Bank is a very good investment. I am quite certain that Q1 and Q2 are going to disappoint maybe on the asset quality front or may not be showing the kind of credit growth which we expect from the banks to really show,” he added.
On Zee Entertainment's talks to raise funds, he said that debt structure deals always seem to be quite expensive, "Deal can only come along with the strategic investment in the event that they will probably watch for the performance. In the next year, if the performance shows improvement, then they take the valuation call accordingly as people probably may be little cautious taking the calls on the past financials."
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