Alstom Projects has target of Rs 530: Thununguntla

Alstom Projects has target of Rs 530, says Jagannadham Thununguntla of SMC Global.

Thununguntla told CNBC-TV18, "Alstom Project has target of Rs 530. All the heavy capex companies have been underperforming and the order books are not taking off even the company's results are not at all impressive and not inspiring."

He further added, "The company has good management but unfortunately as the slowdown in the economy is clearly reflecting in the order book of some of these capital goods companies. The stock has been selected with a day-target price of Rs 530 on the short side."

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