Accumulate Jaiprakash Associates: Seth

Accumulate Jaiprakash Associates with long term view, says Prashastha Seth, Senior VP-IIFL Private Wealth, IIFL.

Seth told CNBC-TV18, "In Jaiprakash Associates the problems are, one is obviously you are seeing slowdown in the real estate business of slowdown in infra space. Two, JP Associate has come up with additional capacity in cement and there also the prices of cement has come down over the last one- one and half months. That is the reason you have seen pressure in the stock. That means that the free cash flow generation would probably not happen this year. My sense would be there is no point in selling the stock at these levels, I think the markets are essentially taking in the worst and essentially discounting it. So I would not sell it at this point of time.