Punj Lloyd looks weak in infra space, says Tulsian

Punj Lloyd is looking weak in infra space, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, “I have been maintaining my negative view on Punj Lloyd because if one sees the financial performance for the last four quarters, I don’t think that really anything is happening, apart from that the margin compression, the working capital pressure, but the sporadic upmoves, which we see coming into this stock, but that last, that doesn’t sustain for a very long time. So, I will only be using any this kind of rally for exiting. Even the investment positions I will recommend to exit from the stock because the stock looks to be the most weak amongst the entire infra space.”
He further added, “GAIL, sometimes if one see the price of Rs 330 or Rs 325, it’s really surprising to see that kind of price because if someone has not seen this price chart for one month, he will not be able to believe that it is ruling at such a low price. One cannot really say that it could be the effect of the Petroleum and Natural Gas Regulatory Board (PNGRB) order and one has to see if the positive order comes in on 3rd December, which will definitely be helping IGL, but I don’t know what is the reason for such a big fall because either the market is taking big concerns on it’s core business and that’s the reason the investors are all exiting from the stock.”