Book profit in GMR Infra around Rs 30, says SP Tulsian, sptulsian.com.
Tulsian told CNBC-TV18, "If you see the run up, may be GMR Infra rose by about 50% in this last one month, similar is the case with IVRCL and may be the other stocks like GMR, GVK Power and all the stocks have really run up, but what I like now, may be I will continue to keep my positive view on IVRCL, then I like Mundra Port."
He further added, "In case of GMR Infra , I think that profit booking should come at a level of about Rs 30 because the kind of low we have seen of about Rs 18 last month in the middle of December and now it has run up to about Rs 29-30 profit booking should come but the kind of measures initiated by the companies like IVRCL and Nagarjuna Construction, these two companies have really taken up this serious steps to monetize the assets held by them in the BOT projects or may be in the realty, in case of IVRCL and I think that they are serious in raising anywhere between Rs 800-1000 crore incase of both the companies, that will deleverage the balance sheet to a great extent because both these companies are sitting on a debt of close to Rs 2000-2500 crore. So, that will still go positive for both the stocks. So, may be one has to be selective but restricted only to these few stocks like IVRCL, Nagarjuna Construction or Mundra Port."
