Wednesday, 29 October 2008

Punj Lloyd a good pick: Vijay

Portfolio Manager, PN Vijay is of the view that Punj Lloyd is a good pick with one year perspective.

Vijay told CNBC-TV18, "The stock I will be very comfortable with is Larsen & Toubro. I often say L&T and State Bank of India represent the Indian nation. If you saw L&T Q2’s result and I was looking at it with great apprehension to see what that bellwether would do. Showed a remarkable increase in the order book and a small blip in EBITDA, I think less than a percent, which is because of high commodity prices. I think they are well positioned; they have fallen like a pack of cards like everybody else and so in infrastructure I would choose L&T as a good pick."

He further added, "Punj Lloyd is in a hi-tech construction business and they have grown very well. They have some balance sheet related problem, I think they have got over them and again that share has fallen about 60-70% from its January highs. So Punj Lloyd would be an excellent pick with one-year perspective."

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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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.