Muthoot Fin will consolidate between Rs 150-160: Tulsian

Investment Advisor, SP Tulsian feels that Muthoot Finance will consolidate between Rs 150-160.

Tulsian told CNBC-TV18, "When Muthoot Finance went public I express my view that I see a fair value of about maybe Rs 160 on the listing, so they should not have come off IPO beyond Rs 150. And now since the share reached almost to my level but because of the weak market sentiments it is not helping. So maybe between Rs 150-160 it will consolidate or it will settle for sometime where once we see the results coming in from the company for March quarter then probably the renewed buying will start at these levels but in my view it seems to have bottomed out.”

He further added, “Paramount Print is a classical case of the operator rigging the stock because we have seen 2 kinds of moves. One happens on the listing and one happens maybe after a week or so. So this falls in the latter category where the operator has become active and he has started mopping up the share ultimately to find an exit.”

“The kind of dull response now we see from the traders, they are not really participating in these kinds of operator driven stocks because they have understood the modus operandi of all these operators. So it will be difficult for the, so called operators to exit from the stock. Maybe the things will hover between Rs 32-36 but purely on a fundamental basis I won’t attribute a value of more than Rs 10 to this stock.”