Kingfisher Airlines has target of Rs 14-15 in next two months, says SP Tulsian of sptulsian.com., Latest Stock Price
Tulsian told , “I don’t think that Kingfisher Airlines is really for the traders and as you have said that Vijay Mallya is looking to sell the IPL franchise, as quick as it happen it’s very good for the stock because ultimately we know that whatever amount he will be going to mobilise whether from IPL or from sale of his stake in the other companies or maybe the non-core assets of any of its company.”
He further added, “We have seen that some of the aircraft being moved from Kingfisher Airlines to the UB Holding group company. So whatever amount gets mobilised by the group will be utilizing for discharge of the dues of the banks or the liability of Kingfisher Airlines, which will be seen quite positive by the market and fall of this 5-6% everyday at a price of Rs 11 or maybe Rs 10 is not really too material and the moment we will see this discharge of debt start happening by the group because I have been taking a call that there is no escape for Vijay Mallya but to pay all the liabilities of the bank. So we will swiftly see the share moving back to about maybe Rs 14-15. We will see it moving by about maybe 18-20% in a day. So this more for a positional short-term investor or maybe the positional trader, I don’t think - because this stock is not available in F&O. So the only option before you is to play it into the cash market with a short-term investment horizon. So I will advice to only go for the time horizon of about two months with a price target of close to about Rs 14-15 in that period.”
src-moneycontrol
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