Mar 28, 2013, 07.37 PM | Source: CNBC-TV18
Sharmila Joshi, Head of Equity at Peerless Securities advised holding Punj Lloyd. She said the target price for the stock would be Rs 56-58.
Sharmila Joshi (more)
, sharmilajoshi.com | Capital Expertise: Equity - Fundamental ,IPO
Joshi told CNBC-TV18, “Here we have a company (Punj Lloyd) where we are seeing slightly better numbers and they came from a patch where quarter-on-quarter (Q-o-Q) they didn’t deliver and there were all kind of issues. However, I don’t think the kind of numbers that they have shown are exciting enough and this whole space is feeling a lot of pain.”
“And to my mind again even it is not like you are going to get significantly higher levels very soon in a hurry. So, I would put a target of about Rs 56-58. For the moment it becomes a hold. However, going ahead this is going to be one of those this entire sector is not out of the woods and it is something that is going to try investor patience,” Joshi added.