Vishal Jajoo positive on Hindalco Industries

Vishal Jajoo, Senior Equity Research Analyst at Nirmal Bang Securities told CNBC-TV18, "I will be positive on a stock like Hindalco Industries. Jindal Steel & Power (JSPL) had been punished a lot. It could have got corrected because of that or it could have seen some pull back because of that. But second thing is that if you look at the dependence or if you look at the Earnings per Share (EPS) impact which has and if the decision goes against then the EBITDA level impact on Hindalco is just 5 percent and it grills down to just minus 15 percent impact on the EPS. So if you have to effectively balance that thing Hindalco appears to be a relatively safe bet."

Hindalco Industries ended at Rs 176.20, up Rs 6.10, or 3.59 percent.

The share touched its 52-week high Rs 198.70 and 52-week low Rs 98.80 on 25 July, 2014 and 24 February, 2014, respectively.