Jai Prakash Associates Ltd: Forms Temporary Bottom
It seems for the time being Jai Prakash Associates Ltd has formed a temporary bottm, whihc might take the scrip upto Rs.77-79, in the short term. The net profit of the company dropped more than 64% on Y-o-Y basis to Rs.110.9 crore as its interest cost jumped over 20 %. Total income, however, rose by 15.5% to Rs.3,430.9 crore from Rs.2,969.5 crore during the same period.
Meanwhile, the research firm Barclays has an overweight rating on the stock with a target price of Rs.103. "Near-term performance will be driven by the company's ability to resolve the perception around it's debt service capability," Barclays reasoned.
Note: This was sent to the Paid Members and to those who are trading through my Brokerage House, yesterday night.
Meanwhile, the research firm Barclays has an overweight rating on the stock with a target price of Rs.103. "Near-term performance will be driven by the company's ability to resolve the perception around it's debt service capability," Barclays reasoned.
Note: This was sent to the Paid Members and to those who are trading through my Brokerage House, yesterday night.
