Sharmila Joshi, Head of Equity at Peerless Securities advised holding Punj Lloyd. She said the target price for the stock would be Rs 56-58.
Joshi told CNBC-TV18, “Here we have a company (Punj Lloyd) where we are seeing slightly better numbers and they came from a patch where quarter-on-quarter (Q-o-Q) they didn’t deliver and there were all kind of issues. However, I don’t think the kind of numbers that they have shown are exciting enough and this whole space is feeling a lot of pain.”
“And to my mind again even it is not like you are going to get significantly higher levels very soon in a hurry. So, I would put a target of about Rs 56-58. For the moment it becomes a hold. However, going ahead this is going to be one of those – this entire sector is not out of the woods and it is something that is going to try investor patience,” Joshi added.