Invest in Lanco Infratech for long term: Agarwal

Rajesh Agarwal of Eastern Financiers is of the view that long term investor can invest in Lanco Infratech, the stock can touch Rs 18.

Agarwal told CNBC-TV18, “In just one to two months Lanco Infratech would witness further falls once the results are out, because we feel that the results would not be that good, but having said that I would say that if you can increase your time horizon for maybe 9-12 months I think there will be a good jump from these levels because the stock has seen quite a beating because of high interest costs and issues related with infrastructure piece, but going forward with the kind of power projects they have 9,225 MW out of which 4,367 MW is already operational, so this has not been taken into account in the current market cap. So I think once things get sorted out they can reduce their debt by stake sell and all the counter might see a jump and touch a target of around Rs 18 in the next one year. So I would suggest increase your time horizon and be put in the stock.