SP Tulsian of sptulsian.com advised holding GMR Infrastructure. He expects a target of Rs 25-26 in one year timeframe.
Tulsian told CNBC-TV18, “I will advice to hold GMR Infrastructure because if we see the best part which now company has initiated that they have started monetizing all their assets. If you see maybe in this last two or three months they have monetized one of their road project, they have monetized the Singapore gas based power project. Now we have been hearing that they are probably looking to sell one of their hotels at Hyderabad airport closer to about Rs 300 crore.”
He further said, “While talking to the management they have clearly indicated that whole of the calendar year 2013 will be selling assets. I won’t be surprised to see the stake sale happening in their Istanbul airport also. So, going forward their focus will be on two things one is the Delhi airport, second Hyderabad airport that will be in their airport portfolio. And second will be the power generation portfolio where they will be starting the power projects at Chhattisgarh and Odisha in next 18 months or so.”
“Going forward they will completely look to exit from the entire road portfolio. So, if all these things happen at a frequent interval this will be seen good by the market because company is sitting on a huge debt of Rs 37,000 crore. If they can reduce it by about Rs 8000-10000 crore in whole of this 2013 the stock looks good. I will advice to stay invested. With one year view you can expect a price of about Rs 25-26,” Tulsian added.