Jan 18, 2011, 03.53 PM IST | Source: CNBC-TV18

Jayaswal Neco can move upto Rs 42-45: Tulsian

Jayaswal Neco Industries can move upto Rs 42-45, says SP Tulsian, sptulsian.com.

Jayaswal Neco Industries can move upto Rs 42-45, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, "Jayaswal Neco Industries is more on the transformation which is happening in the company and they are trying to move into the value chain or trying to make the integrated play from end to end. They are having their own iron ore mines, having their captive power, making the steels or making the castings, which ultimately fetches them a very good price."

He further added, "If I go by the present market cap of Rs 750 crore and the kind of valuations which we have all been seeing given to the steel plants, these kind of, especially the casting makers, I see good value and also managements have been taking the steps to clean the books or to have the financials in place plus in fact the integration of the operations happening, they have been trying for iron ore mines they have been allotted these mines."

"Going forward at Rs 30 I feel that share seems to have or we have seen in the past that it has Rs 30 as its bottom and once you see the renewed interest or any news flow coming in from the company straight away the stock takes a jump of about 15% - 20% in maybe be a very short time. But even of somebody can keep a view of about one year, I think this should be able to give a return of about 40% to 50%, could move to about Rs 42 to Rs 45 but one has to have a little longer horizon on the stock of about 8 to 12 months, one should not see the day to day movements or should buy for the short term gain to this stock."

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