Positive on JP Power, may hit Rs 21: SP Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, "I wonder that why Jaypee Infratech is excluded or not coming on the radar. They are holding the land parcels at 5 tranches of which 55 percent is in the NCR region where the development work is going on. Each parcel is of 1280 acres which they got as part of the Yamuna Expressway."

"Yamuna Expressway is also very much operational. They have been making cash profits for the last may be about three years or so. They have been monetizing their real estate property. So sometimes I feel that probably people are taking Jaypee Infra more as a infrastructure stock and not as a realty while the realty portion is really huge. They have two tranches of 500 hectares. So, that is a very good stock," he said.

Tulsian further said, "One can virtually call it as debt free because Rs 7,500 crore debt existing in the company is all borrowed for the Yamuna Expressway. So, it is a very interesting stock."

"However, coming on the Jaypee Group as a whole I don’t think unless until one sees the monetisation process happening for Jaiprakash Power which they have been talking for two power projects of about 1300 megawatt, that will really be a big kicker for the stock. That is the reason I am keeping positive stance on Jaiprakash Power as well. One can look for a level of Rs 21 when that news flow comes in," he added.