As Arvind Ltd is gearing up for demerger of its branded apparel, retail and engineering ventures into separate entities, SP Tulsian of sptulsian.com on Monday sees upside for the company.

"Post the demerger, it will be Arvind Fashions, Arvind Limited and Anup Engineering. If the deal goes through, which is a 95 percent probability, then the enterprise value of the company is seen close to Rs 12,000 crore including debt of Rs 1,500 crore and market capitalisation of Rs 10,200 crore," Tulsian said.

The correction seen in Bajaj Finance is a classic case of frenzy and over valuation, Tulsian said, adding that, if the earnings per share (EPS) were to be about Rs 60 and giving a higher multiple of 40, the logically the valuation should be around Rs 2,400-2,500. So won’t be surprised with correction of Rs 100-225 on the stock.

Tulsian said Sun Pharma seems to be bottoming out and Rs 630 looks a good level, where it could settle and that could be a good entry point. On a valuation parameter, it's unlikely that will correct beyond Rs 630.

Tata Motors looks like a tired stock. On the domestic side, things seem to be improving a bit on commercial vehicle (CV) space, but on a comparative value there is more CV buying interest in Eicher Motors and Ashok Leyland, Tulsian added.

On Jaiprakash Associates, Tulsian said, "Don’t see further downside, Rs 9 could be a good support for the stock."