Bearish on SKS Microfinance: Ashwani Gujral
This is a social sector, company is trying to come into the equity market where profits are important, so this was a non starter from the day it listed. I think it will get to two figures in quite a bit of hurry so people need to still get out of ...
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| Updated: Ashwani Gujral, Chief Market Strategist, ashwanigujral.com in an interview with ET Now talks about SKS Micrifinance
On the charts SKS Microfinance which is down 16% can it sink further and the other one is Piramal Healthcare which has taken a deep knock today?
This is a social sector, company is trying to come into the equity market where profits are important, so this was a non starter from the day it listed. I think it will get to two figures in quite a bit of hurry so people need to still get out of SKS Micro if they haven't. Strong resistance now probably comes in around Rs 403 but it is going to sink quite fast. Piramal Health again it will doing this range of Rs 410 to about Rs 480 and once RS 410 is taken out if it is then probably the Rs 340-350 is possible on Piramal.
On the charts SKS Microfinance which is down 16% can it sink further and the other one is Piramal Healthcare which has taken a deep knock today?
This is a social sector, company is trying to come into the equity market where profits are important, so this was a non starter from the day it listed. I think it will get to two figures in quite a bit of hurry so people need to still get out of SKS Micro if they haven't. Strong resistance now probably comes in around Rs 403 but it is going to sink quite fast. Piramal Health again it will doing this range of Rs 410 to about Rs 480 and once RS 410 is taken out if it is then probably the Rs 340-350 is possible on Piramal.
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