Saturday 4 October 2008

JP Associates can test Rs 140-150: Baliga

Ambareesh Baliga of Karvy Stock Broking is of the view that Jaiprakash Associates can test Rs 140-150.

Baliga told CNBC-TV18, "A bounce back could possibly take Jaiprakash Associates to Rs 140-150 levels but I do not think we will ever see at least in the near future price of over Rs 200-250. But when we are talking of realty stocks quite a few of infrastructure stocks, I will not say JP Associates as a clear infrastructure stock as they have realty, power and cement. But there is a difference between the infrastructure stocks and the realty stocks because infrastructure stocks have an upper hand because our economy is infrastructure starved. We can also argue that we have a housing starved economy also but housing starved area is basically the low cost housing where most of our players are not interested. The area where they are operating we have an oversupply whereas there is low supply as far as the low cost housing is concerned."


Source: Moneycontrol

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