Hold Jaiprakash Associates: Shahina Mukadam

Shahina Mukadam, Independent Market Expert told CNBC-TV18, "It is possible that there could be some bounce in Jaiprakash Associates given the fact that there are some definitive agreements the company has signed for sale of its cement plant and some resolution. However, I don’t see any turnaround in terms of the company’s fortunes because of it. It is likely to remain a penny stock."

She further added, "From current levels it can go up say to Rs 15-18 which is big in percentage terms. So one can wait for some more time and look for some upside."