Tulsian told CNBC-TV18, "Jet Airways deal - only ambiguity in the whole deal is whether the open offer will trigger or not, because the market is taking a call that open offer will not trigger and that is keeping the share price subdued may be at a level of about Rs 635-640."
He further added, "If the open offer is likely to get triggered which in fact I am holding my view that yes it is likely to get triggered, because if Etihad is coming as a strategic investor with 24 percent stake with the rights on board seats and all that, it will be seen as an investor in control of that company. So, if the open offer triggers then the stock will move to about Rs 680-685 but if it confirms that open offer is not coming then probably you may see the share ruling in the same range of about Rs 635-650 because I don't think that much downside is seen from hereon. It is virtually ruling at its lower end of Rs 635 or so."
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