Pankaj Jain, Director, Sunteck Wealthmax Capital Pvt Ltd told CNBC-TV18, "If we take 6-12 months kind of view GVK Power & Infrastructure could hover somewhere between Rs 8-12. There are two or three serious issues with the stock. One is definitely very high levels of debt that is a serious issue and availability of gas that is another serious issue. We don’t see any resolution in coming quarters and third is cost of coal. Cost of coal has come down in recent months and that could aid the company in coming quarters."
He further added, "However, taking pros and cons into affect we believe that stock could be hovering between Rs 8-12. So, it is not a kind of bet where we will put our fresh money into purpose. However, as of today maybe the investor could hold and in any decent month and at levels closer to Rs 11-11.50 maybe he/she could quit. So, we are not all that gung-ho or not all that optimistic on the stock and that Rs 8-12 is the kind of range we believe the stock could hover around for next three to six months."
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