Sell Jaiprakash Associates: SP Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, "If one sees the situation going forward in the next one month when Jaiprakash Associates will be announcing the results it doesn't announce the consolidated quarterly numbers. They always announce the standalone, but apart from that their two subsidiaries Jaypee Infratech and Jaiprakash Power both are doing very badly which has reflected into the stock price also."

"Apart from that in case of Jaiprakash Associates, no headway is being made by the company to divest or to exit from the 4.9 million tonne Gujarat cement plant. So, the concern of Rs 56,000 crore of debt on a consolidated basis in the books of the company continues to remain," Tulsian added.

He further said, "Taking all this into account Q1 numbers will be negative for the stock. So one should look for level of Rs 56, exit at those levels and try to hunt some other ideas."

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