Rajen Shah, Angel Broking told CNBC-TV18, "We had mentioned that Punj Lloyd is turning around and the losses have compounded significantly and have reported just about Rs 8 crore of loss. This year, it should end up reporting a reasonably fine net profit, plus the order book position is also improved to about Rs 23,000 crore or so. So Punj Lloyd at about Rs 54 certainly looks for a decent upside. We are expecting at least about 35-40 percent kind of upside in the next twelve months for Punj Lloyd. So our target of about Rs 75 cannot be ruled out."
He further added, "Apollo Tyres’ results were not up to the mark but still on a consolidated basis, it reported about almost Rs 12 kind of earnings. So, the stock is at about Rs 8 price per earning (P/E) multiple. More than Apollo Tyres, the stock which we like in the tyre space is JK Tyres and Industries, which is extremely cheap trading at hardly 2.5 times the earnings."
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