Exit Jaiprakash Associates on rally: Ajay Srivastava

One can exit Jaiprakash Associates on rally, says Ajay Srivastava, CEO, Dimensions Consulting.

Srivastava told CNBC-TV18, "Jaiprakash Associates is a brilliant stock. We have discussed number of times, one of  the best trading stocks that I have seen in my life. It always gives you a chance to make money. It will travel up to Rs  80, maybe Rs 82. It went to Rs 100 at one time but that’s not the target we look at and then travels back to Rs 63-65- 67.”
He further added, “I think in the last seven-eight months, I think round about trip has happened, I don’t know how many  times. So, fundamentally, it has got an issue with the huge debt amount sitting on the books but on a pure trading  platform, it is the finest stock.”
“It is not one of the stocks you want to hold beyond Rs 80-85. You want to get out of that stage, come back when it  corrects and it does correct. For whatever reason it corrects, it corrects. Long term, I think it’s a 50:50 chance that it will  reach Rs 100 again because of the huge debt burden it sits on but in the shorter term horizon, I think it will should see  another Rs 5-7 and then you get out. So that’s the way the stock has played out and I think unfortunately it has become  a pure trading play."