JP Associates looks attractive: Gautam Chhaochharia

Jaiprakash Associates is attractively valued at this point, says Gautam Chhaochharia, UBS India.

Chhaochharia told CNBC-TV18, "Jaiprakash Associates valuation is very attractive. They have reasonably good quality assets in that entire space and again if you look at the broad infra capital goods space that is one name which does have a reasonably good portfolio of ready assets, so that looks attractively valued for sure."
He further added, "The key will be the pace of deleveraging if they can achieve. The hope is on one of the cement plants being sold. So deleveraging will be the immediate catalyst for them, but beyond that the stock will be dependent on the economic cycle recovery."