Exit Adani Power: Jagannadham Thunuguntla

Jagannadham Thunuguntla of SMC Global is of the view that one can exit Adani Power.

Thunuguntla told CNBC-TV18, "I do not expect power to outperform any time soon. Power has clearly become power less because the gestation periods are longer, execution slippages, raising interest cost, there is a whole host of issues. I do not see any reason why the investor should stay invested in Adani Power, one can easily exit."
The company's trailing 12-month (TTM) EPS was at Rs 2.40 per share. (Jun, 2011). The stock's price-to-earnings (P/E) ratio was 32.54. The latest book value of the company is Rs 29.00 per share. At current value, the price-to-book value of the company was 2.69.