Hold JP Associates With Stop Loss Of Rs 105

Hold JP Associates With Stop Loss Of Rs 105Stock market analyst Vijay Chopra is of the view that investors can buy Jaiprakash Associates Limited stock to achieve a short term target of Rs 150.

According to analyst, the investors can buy the stock with stop loss of Rs 105.

Today, the shares of the company opened at Rs 122 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 180.09 and a low of Rs 112 on BSE.

Current EPS & P/E ratio stood at 4.03 and 29.83 respectively.

Diversified company JP Associates has decided to make an investment of Rs 3,000 crore in the existing fiscal, mainly to augment cement capacity in a market rising in double-digits.

The company said that it will consider bidding for road ventures by NHAI plus two expressways it is constructing in UP.

Jaiprakash has interests in hydropower, construction, realty, cement and hospitality.

The company benefited over the last few years from a construction boom in Asia's third-biggest economic system to boost its road network and strengthen power generation capability.

It presently runs cement capacity of 19.1 million tonne and eyes to lift this to 29 million by March next year.

The company recorded a net profit for the financial year ended March 2010, whilst its total income surged 72.52%.

During the year ended March 2010, the company's total revenue stood at Rs 10316.04 crore as compared to Rs 5979.52 crore in March 2009.