Limited downside is seen in JP Associates, says Ambareesh Baliga, Market Expert.
Baliga told CNBC-TV18, “The only trigger for JP Associates is the sale of the cement unit which has been coming up time and again and levels of closer to the current levels Rs 67-68 is a good support. I really don’t see too much of a downside from here. Whenever that news comes possibly we could see levels of Rs 84-88. So, at these levels one could venture out and buy.”
On Feb 25, Jaiprakash Associates closed at Rs 68, down Rs 2.35, or 3.34%. It has touched an intraday high of Rs 71.40 and an intraday low of Rs 67.45.