Shardul Kulkarni of Angel Broking told CNBC-TV18, "The weekly as well as the monthly chart of GVK Power & Infrastructure are not that great. If one is looking at probably 12 or 18 months timeframe then I think that the bounce which is there currently can extend towards Rs 10.50-11, but beyond that at this point of time it is quite difficult to comment. So I would say that one can hold onto the position, but if the stock unfortunately were to fall below Rs 7.20 and close below Rs 7.20 then it is better to exit from this particular counter."
At 12:01 hrs GVK Power & Infrastructure was quoting at Rs 7.60, down Rs 0.10, or 1.30 percent. It has touched an intraday high of Rs 7.79 and an intraday low of Rs 7.60.
The share touched its 52-week high Rs 15.75 and 52-week low Rs 5.52 on 09 January, 2013 and 07 August, 2013, respectively. Currently, it is trading 51.75 percent below its 52-week high and 37.68 percent above its 52-week low. Market capitalisation stands at Rs 1,200.20 crore.
Disclosure: It is possible that he has positions in the stock discussed and may have recommended them to his clients.
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