Thursday, 16 October 2008

JP Associates has target of Rs 55: Gujral

Technical Analyst, Ashwani Gujral is of the view that Jaiprakash Associates has target of Rs 55.

Gujral told CNBC-TV18, "JP Associates and Nagarjuna Construction are still not showing any signs of bottoming out. JP Associates probably has next target at around Rs 55."

He further added, "Punj Lloyd has recently started falling so that could have more downside than some of the others, which are falling."

"Nagarjuna Construction is now anybody�s guess that it will go off the radar. All of these infrastructure kind of stocks, capital intensives as a group will under perform from here and probably people would much rather be in defensive and things which need capital."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Source: Moneycontrol

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