Exit Adani Power around Rs 51-52: Tulsian

SP Tulsian of sptulsian.com is of the view that one should exit Adani Power around Rs 51-52.

Tulsian told CNBC-TV18, “Operationally the working has been good but still I won’t be taking too much comfort unless and until you see the outcome from the Central Electricity Regulatory Commission (CERC) where the price revision or the price hike is likely to be given to the company because Tata Power and Adani Power both are having their plant at Mundra, both are on the imported coal base. CERC found a strong case in their favour.” He further added, "Now the prices can move, because the results have been reasonably good on the operational front, but still one cannot really take much comfort from that. So, if the investor gets the price of Rs 51-52 then should look to exit because other opportunities are available where one can look to exit because these kind of stocks unless and until one has a clear cut turn in your profitability or performance one cannot really remain comfortable. Even on a comparative play sometimes I find JSW Energy or Tata Power as a better play but maybe the other stocks like Voltas or Sintex Industries can be looked within the same price range where the investor should look to move into.”