Adani Power may come down to Rs 60 in next couple on month time, says SP Tulsian, sptulsian.com.
Tulsian told CNBC-TV18, "You don't have any respite or clarity coming in respect to the coal prices and you see the capacity addition which has been continuously happening. By 31st March Adani Power will be having the total power generation capacity of 6,000 megawatt and right now they are operating on an effective, if you take the average for Q3 has been at about 4,800 megawatt. So if 1,200 megawatts gets added it is a confirmed fact that Q4 will going to be equally disappointing."
He further added, "I will be seeing it more worse than what they have posted in Q3 but difficult to take a call that how much beating can take place, maybe because technical forces can make it move upward. But if I take a longer call probably the stock looks to be in the weakfish trend and I won't be surprised to see it falling to Rs 60 in next couple of months or so."
