Buy Jaiprakash Associates: PN Vijay

Buy Jaiprakash Associates, says PN Vijay, Portfolio Manager.

Vijay told CNBC-TV18, "JP Associates is slightly safer among the risky bets. In JP Associates there are three businesses. One of them gets more of the limelight and its obviously having its share of problems - the real estate development business. Though they are not incidentally part of any land scam."
"The cement business is strong. One is seeing a mild turnaround in the fortunes of cement companies after a lot of hibernation. JP has about 12 million tonne of cement, so that has very strong at least top line traction. Then of course there is their legacy contracting business - a good margin business. So those two pieces are very much intact and to some extent the markets sort of concentrate a lot on the development activity. Bit like Reliance