Aashish Tater, Head of Research, Fort Share Broking is of the view that Delta Corp can easily give 25-35% return in no time
Tater told CNBC-TV18, "Delta Corp is one trading bet we have been taking on right from Rs 45 levels to 130 levels. We have been selling and buying this particular stock. I was just reading the F&O criteria as prescribed by SEBI and at market cap of Rs 2,000 crore this is one candidate that can be listed into F&O space from next three- six months perspective. I was calculating the quarter sigma for this stock and also calculating into the range. This is a fit that will hit the F&O space. Now my prior experience suggest that whenever these are midcap listing into F&O space which has a trading momentum by its side gives 40-50% return in no time."
He further added, "So we came out with this report around that Rs 94-95 odd mark that one should put a stop loss of Rs 88 or see that the volumes are drying up. But nothing has happened and yesterday the stock gave a fresh break out. So, from the next three to six months perspective the stock can easily be traded for a 25% gain but keeping a fixed stop loss. Now taking a fundamental call for the company, it is very difficult to actually arrive at a PE. Because this is one stock which is believed to be a concept stock, with its casinos and new MOUs coming up across the globe.They are also developing apart with Kenya Government which is expected to be delivered by September 2011. The momentum would continue and with high beta sector and anything happened for the upside for the index, this stock will easily give 25-35% return in no time."
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