Market expert, SP Tulsian, on Friday said Rs 18,000 seems to be the realistic valuation for Page Industries and Eicher Motors, comparing the carnage of Apple shares in the US market.

"For Page Industries, I had been cautioning when it was ruling at about Rs 35,000-36,000. Still if you take a call on the earnings of Page Industries, I do not think that next year's earnings per share (EPS) can be more than Rs 450 or if you want to be extremely positive then Rs 460-470. I am referring for FY20 and still the share is ruling at a PE multiple of 53-54. So in this scenario, if you have a muted kind of growth in reference to the PE multiple of about 25-30 percent, I don't think there is any justification," Tulsian said.

On Eicher Motors, he said, "The trajectory falling from 75,000 vehicle per quarter to 70,000 in second quarter, 65,000 in third quarter, definitely you will be having concerns. The PMS and funds are sitting huge on these stocks and every day we are seeing the delivery based selling. In case of Page Industries, may be to the extent of Rs 20-25 crore, while there are no buyers."

"Yesterday, we have seen the carnage of Apple in the US market. At one time, the peak market capitalisation was $1.1 trillion and we have seen the market capitalisation shaving off by $350 billion in the last 2 or 3 months. The company is having cash of about $250 billion. After the share being corrected by about 30-38 percent, it's now ruling at a PE multiple of 8 or 9 as now people have started calling it as a single product company and you cannot really give this kind of valuation to a single product company like Apple," he added.

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