SP Tulsian of sptulsian.com is positive on Jaiprakash Power Ventures. Shares dropped 6 percent to Rs 27.75 on Monday.
Tulsian told CNBC-TV18, “On the current level I am keeping a positive view on Jaiprakash Power Ventures because the stock bounces back very quickly. And the qualified institutional placement (QIP) which the company has completed a week back of about Rs 900 crore also seems to be quite positive for the stock.”
“Now this is a combination of the hydro and thermal power. I am not too gung-ho on their business cycle as of now because all the power stocks are seeing a beating because of negatives that came in the Budget. But maximum I can advice him/her to look for a price of around Rs 32 and he/she should look to exit from this stock,” Tulsian added.