Phani Sekhar, Fund Manager-PMS at Angel Broking is of the view that one may exit Jindal Steel & Power.
Phani Sekhar, Fund Manager-PMS at Angel Broking told CNBC-TV18, "The current results of Jindal Steel & Power (JSPL) were good because of better power realisations but there are two primary challenges before JSPL. One is the cost of coal will increase, which means that the power margins and earnings of the power business will decline going forward and there is a huge question mark on the sustainability of the steel business due to the continuation or question mark on the continuation of the Sharda mines. So if there are favourable trends, investors can ride on this, maybe get out at Rs 185-190 and look at some other stocks."
Jindal Steel & Power ended at Rs 162.40, down Rs 7.75, or 4.55 percent on the BSE.
The share touched its 52-week high Rs 350 and 52-week low Rs 128 on 09 June, 2014 and 20 October, 2014, respectively.
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