Jaypee Infra can move upto Rs 45.50, says Tulsian

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Jaypee Infra can move upto Rs 45.50, says Tulsian

Jaypee Infra can move upto Rs 45.50, says SP Tulsian, sptulsian.com.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by SP Tulsian See what other Experts & Brokerages are saying about Jaypee Infra See messages about Jaypee Infra

Jaypee Infra can move upto Rs 45.50, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, "In Jaypee Infra, last week we saw good amount of buying in that in the hopes that they will be starting their 165 kilometer expressway, the trial of which is going to start maybe next couple of months and they will make it commercially operational from 1st April, 2012 which is exactly one year ahead. Plus apart from that they had been doing quite well on the real estate front also. The development is going on in the Greater Noida region. So two things have been keeping this stock up quite sometime."

He further added, "Maybe today the down or the correction we have seen is largely on account of profit booking because that has been happening. If you recall a couple of months back it went past Rs 55 then we have seen the huge profit booking. So probably the short-term investors are finding it very easy that enter at a level of about Rs 35, allow the stocks to move up by 15-20% and then book the profit. But I think at this level I will be holding the investment potential that probably if somebody can keep a view of maybe couple of months or two to three months they can again see a price of Rs 45.50 coming back in the stock."

" Deccan Chronicle has been disappointing to the market because they had been talking of their stake sell in Deccan Charger for quite sometime. If you see earlier the news was that they are looking to acquire this stake in a housing finance company and all sorts of things. So that has been keeping the stock subdued because no progress is happening on stake sell which they are holding in Deccan Charger and that's the reason the stock has been continuously falling. In fact it moves up by 2-4% and it corrects by 4-7-8%. So for the last six months the trajectory of the stock has been week and I don't think there is going to be any hopes even going forward from hereon."