Jain Irrigation looks good at current level, says Tulsian

Tulsian told CNBC-TV18, “Jain Irrigation, I am convinced and satisfied with the performance of the company. If you see Q4, the trend has been on the margin front they have started showing some improvement and even on the debt reduction which has been a big concern for the company that the debt has been piling up because of the huge blockage of the amount in their working capital, even there we have seen a minor reduction in the debt. So probably that could be start of the positive days ahead for the company.”

He further added, “The kind of weakness we have seen in the share price, I don’t think that it justifies further downward trend on this and going forward for next six months the season and the time for the company is going to remain quite good because of the approaching monsoon and all. So even Jain Irrigations I will be comparing along with or I will be putting it along with Sintex Industries in the same category.”

“For JP Power numbers, I don’t think anything exciting will be seen from that company. If you see the hydro and thermal base both the sectors are not going to perform well. As such this is not the time to do well, so disappointment on the JP Power. On JP infra, I think the contribution from engineering and construction and cement will really be very interesting and I don’t see any reason for the disappointment on that. In case of JP Associates you have lot of combinations of the subsidiaries like JP Infra and so many other ventures. Apart from that lot many adjustments have done by the companies for the last four quarters. If you see sometimes results became complicated. So one needs to take the consolidated results of JP Associates, but I am expecting at least improvement from that company for Q4.”