We had recommended a SELL on Tulip Telecom in our result update for the Apr-June 2012 quarter on August 16, 2012 with a tgt price of Rs85. The stock has achieved our target price as it touched a low of Rs82 in today’s trading session. We advise investors to stay away from the stock as macro environment within enterprise space remains cautious and we expect tepid revenue growth and margin pressure to continue in the near term.
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