Avinnash Gorakssakar, Market Expert told CNBC-TV18, "I think the IPO money pf HPL Electric was going to be largely used for debt repayment and working capital facilities and definitely results for FY18 should reflect some improvement once the money gets used to pay up the long-term and medium-term debts on the balance sheet. I think within the consumer electricals space it is now available and looking quite attractive from its initial IPO price almost Rs 200 odd."
"I would suggest that investors should hold on for the next six months. Possibly, you could look at a target price of around Rs 150-160 at least in the near-term," he added.
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