JSPL may test Rs 250, says SP Tulsian

Written By Unknown on Jumat, 13 Desember 2013 | 14.03

Dec 13, 2013, 12.17 PM IST

According to SP Tulsian of sptulsian.com, Jindal Steel and Power may decline to Rs 250 in the near term. "Probably third quarter results of the company may not be that good," he adds.

Tags  SP Tulsian , sptulsian.com, Jindal Steel & Power, JSPL

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JSPL may test Rs 250, says SP Tulsian

According to SP Tulsian of sptulsian.com, Jindal Steel and Power may decline to Rs 250 in the near term. "Probably third quarter results of the company may not be that good," he adds.

Like this story, share it with millions of investors on M3

JSPL may test Rs 250, says SP Tulsian

According to SP Tulsian of sptulsian.com, Jindal Steel and Power may decline to Rs 250 in the near term. "Probably third quarter results of the company may not be that good," he adds.

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SP Tulsian of sptulsian.com told CNBC-TV18, "On Monday, Jindal Steel and Power (JSPL) was at Rs 289 apiece. On the same day, we have seen all the stock and sectors having peaked out and since then the stock has been correcting. Take the case of Tata Steel . People were very gung-ho on that stock. Even that stock has corrected."

"In JSPL, honestly I do not see any reason. Now you will be having Q3 hangover also, probably the results of the company may not be that good. Margins of ferrous metals are under pressure for Q3 in the domestic turf. At least in case of JSW Steel we have seen some increase in production also on a month on month basis, but that is not seen evident here in case of JSPL, so largely because of that look for a level of Rs 250 in the near-term," Tulsian said.


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