Avoid Jaiprakash Power, says Sukhani

Sudarshan Sukhani of s2analytics.com recommended avoiding Jaiprakash Power Ventures. He does not see JP Power going to Rs 140 very soon.

Sukhani told CNBC-TV18, “You don’t average Jaiprakash Power; that is almost certain. One can’t get out also. There is no sense in selling. The cost price and the current market price have no relationship with each other. Just forget about it but please do not average. If one has money then one must focus on the better stocks. You want to buy Hindustan Unilever, Reliance Industries or Bharti Airtel you don’t want to average Jaiprakash Power. So just forget about it.”

“There is no purpose in booking your losses. I don’t see JP Power going to Rs 140 very soon. It is very difficult to imagine that, that would make it a seven bagger. It is very unlikely. At this point the advice is just forget about it,” Sukhani added.