Above Rs 20.50, Jaypee Infra may test Rs 28: Salil Sharma

Salil Sharma of Kapur Shah & Co told CNBC-TV18, " Jaypee Infratech is not a bad stock. In the infrastructure space Larsen and Toubro (L&T) would be a better stock to be in. However if one wants to stay invested in Jaypee Infratech then the stoploss will be at Rs 17."

"On the upside Rs 20.50 is a strong resistance, if that is cleared then one can expect a price of Rs 28 in the next six-eight months," he said.

At 12:14 hrs Jaypee Infratech was quoting at Rs 19.20, up Rs 0.40, or 2.13 percent.

The share touched its 52-week high Rs 58.60 and 52-week low Rs 14.45 on 07 January, 2013 and 28 August, 2013, respectively.

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