Stay away from Punj Lloyd: SP Tulsian

SP Tulsian of sptulsian.com advises traders to stay away from Punj Lloyd.

Tulsian told CNBC-TV18, “I will remain away from Punj Lloyd. Generally, whenever you have this kind of a trading bump coming into the stock, they are not sustainable and in fact we see the stock quickly getting corrected. The financial performance continues to remain a big concern; you cannot have the short-term news flows like the order inflow or maybe some short covering point to make entry into the stock. On March 15, Punj Lloyd closed at Rs 48.80. It has touched an intraday high of Rs 49.85 and an intraday low of Rs 47.50.