Exit Jaiprakash Associates on rallies: Thununguntla

Jagannadham Thununguntla, Head of Research at SMC Global Securities told CNBC-TV18, "One thing is even though the market overall picked up the infra space is still not doing that well. Out of that Jaiprakash Associates is particularly having its own tough challenges. Analysts are still trying to figure out how the company can eventually come out of all the debt related problems."

"I suggest probably one should move on whenever there is an odd bounce that comes into the stock. One should use one of those bounces to exit the stock and move to some other better quality name," he added.