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Tulsian picks REC, PFC as power stocks perform
6/29/2012 06:45 PM
Market analyst SP Tulsian of sptulsian.com explains to CNBC-TV18 that his first preference among the power stocks are the financing companies REC and PFC on which he expects a further upside of 15%. Tulsian adds that he is unable to forecast if the upside will happen in July, but is positive that it will happen in the next couple of months.
Below is an edited transcript of the analysis on CNBC-TV18. Also watch the accompanying video.
Q: What are your comments on the reports by Niko regarding the KG reserves? What kind of trajectory do you see on the stock?
A: The stock is quite promising. This news has been expected for the last over 12 months. The development expenditure for FY13 estimated at USD 500 million is very much within the planned target to double reserves. Last week, the sentiment was negative on news from the JV partners regarding the same KG-D6 blocks.
Once the confusion ends, the fact of an overdue timeline becomes clear. The moment it is estimated that the
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