Singhal told CNBC-TV18, "Gujarat Industries and Power looks good in the midcap space for the reason that it is a typical regulatory written story with ROEs improving and I think yesterday or day before yesterday their one of the 125 megawatt (MW) units was started, so we had a buy on this with a target of Rs 140."
He further added, "The stock fell to about Rs 100 or sub-100 level because plant commissioning was delayed because of some earthing issue and could not get synchronized now that has got over. So we would see the earnings impact in this as well as coming quarters and all. So this stock is one which looks good from a long play viewpoint."
