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The stock fell following the announcement that MKV Rama Rao has ceased to be the whole-time director of the company from December 9.
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Geopolitical tensions surrounding Ukraine weighed heavily on global markets. Key Asian markets ended lower except in China that gained 0.9 percent while Nikkei and Hang Seng fell 1-1.5 percent. European markets lost between 1-2 percent.
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Ukraine's new PM has accused Russia of declaring war on the country. This is after Russia moved troops to three bases in Crimea on Sunday. The G7 has condemned Russia‘s intrusion into Ukraine and canceled preparations for the G8 summit that had been scheduled to take place in Sochi in June.
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The rupee is lower tracking weakness in Asian currencies. Weak October-December GDP data as well as importers' dollar demands weighs further. Currencies saw safe haven buying in the Swiss Franc and the yen due to escalating tensions between Ukraine and Russia.
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The Japanese yen rose across the board this morning, while investors gave risk currencies such as the Australian dollar a wide berth as Ukraine mobilised for war after Russia's President Vladimir Putin declared he had the right to invade the neighboring country.
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According to Nooresh Merani of AMSEC, one may hold Jaiprakash Power. “The stock may go up to Rs 24-25 in short to medium-term,†he adds.
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SP Tulsian of sptulsian.com has a positive view on Jaiprakash Power. "One can look for a level of Rs 21 when the monetization of two power projects happens," he adds.
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According to Pankaj Jain of Sunteck Wealthmax Capital, one may buy Bajaj Hindusthan and Shree Renuka Sugars.
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Wockhardt | Cairn India | IOC | Bosch | TTK Prestige | MCX | Wipro | HCL Technologies | Financial Technologies | Jet Airways | Tech Mahindra | Jaiprakash Power | JSW Steel and JSW Energy are stocks, which are in the news today.
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Abhijit Paul of Alphative Advisors LLP prefers ICICI Bank and Axis Bank on dips over YES Bank.
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According to Pankaj Jain of Sunteck Welathmax, one may go long on YES Bank and Jaiprakash Power.
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Checkout why CLSA is recommending a buy on Jaiprakash Power and a sell on Sesa Goa.
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SP Tulsian of sptulsian.com is positive on Jaiprakash Associates. The company has been stuck on its huge debt of about Rs 58,000-60,000 crore, which it will reduce by the process of asset monetisation.
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Sudarshan Sukhani of s2analytics.com recommends selling Jaiprakash Power as one may not see big gains coming in the next two months.
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Vishal Malkan of malkansview.com recommends buying Tata Motors (DVR) with a target of Rs 150 and advises selling Idea Cellular August futures for targets of Rs 162.
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SP Tulsian of sptulsian.com recommends selling Jaiprakash Associates at around Rs 56. "Q1 numbers will be negative for the stock," he reasons.
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Rajesh Agarwal, Head of Research, Eastern Financiers Limited feels one should hold Jaiprakash Associates with a target price of Rs 80.
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According to Pankaj Jain of Sunteck Wealthmax, one may go long in IVRCL as it may be moving out of the F&O series from today.
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SP Tulsian of sptulsian.com advises selling Jaiprakash Power, Opto Circuit, IVRCL and Crompton Greaves.
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Pankaj Jain of Sunteck Wealthmax recommends to sell IRB Infrastructure, Dena Bank, Raymond & Jaiprakash Power.
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Sudarshan Sukhani of s2analytics.com recommends to exit Jaiprakash Associates and Jaiprakash Power and take profits.
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SP Tulsian of sptulsian.com advised buying Adani Power with a target price of Rs 55 and Mahindra Satyam with a target price of Rs 116.
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Phani Sekhar, fund manager of Angel Broking advised holding Jaiprakash Power for long term. He expects the stock to reach Rs 35 in couple of years.
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Sudarshan Sukhani of s2analytics.com sees more downside in Jain Irrigation. Meanwhile, he advised buying Jaiprakash Power.
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Sudarshan Sukhani of s2analytics.com recommended avoiding Jaiprakash Power Ventures. He does not see JP Power going to Rs 140 very soon.
