Lanco Infratech may move to Rs 15, says SP Tulsian

Lanco Infratech may move to Rs 15, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, “We have been hearing for last couple of months from Lanco Infratech that they are looking to monetize some of their road projects which have not happened. Then we got the news that they have the operational 4000 plus megawatt of power projects, 4000 plus megawatt of under construction. So those power projects they are looking to monetize into their subsidiary company even that did not happen.”
He further added, “If nothing is happening and if you see the huge debt lying in the books of the company so you are bound to see these kinds of defaults happening. So unless and until we quickly hear from the company that they have monetized some of the assets at least to the extent of about Rs 3000-4000 crore I don’t think that these problems are going to get solved. So till then the negative stance continues to remain. But I don’t see much of the downside. The stock seems to have good support even on technical or trading point of view if you take that as may be Rs 11.50-12. But once the process of monetization of this stake sale starts happening then we can see the share moving back to Rs 15 plus.”