Globus Spirits may slip to Rs 110, says SP Tulsian, sptulsian.com.
Tulsian told CNBC-TV18, “Globus Spirits, especially if you see the denial having issued by the management we have seen a steep correction. Generally, it is very risky to dabble into these kinds of stocks on some kind of news flow and we see small investors getting trapped because they are not looking to the fundamentals they just ride the momentum. So it’s very risky and I won’t be surprise to see stock again correcting back to about Rs 110 or so in the next one week or so.”
He further added, “The preference be for theReliance Communication , but the second stock for which I will definitely be taking a call could be Reliance Infra because the kind of positive bias, which we have been seeing building up for the infra stocks Reliance Infra looks to be the better stock in that space of ADAG camp.”
“All these packaging film results have not been very good because the only trigger in Uflex has been the stake sell by the promoters, which is not been happening, probably after we see the Samajwadi Party coming back into the power lot of hopes got built up that they may go ahead and sell their promoter’s stake because Ashok Chaturvedi who has been- there was a talk for the last 6 months. So I don’t think that results will really be the trigger considering the results having posted by the other packaging film makers for the recent past.”
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