Jaypee Infratech stocks good for long term: JV Capital

ET Now Fundamental Check with Ashit Suri, Fundamental Research Analyst, JV Capital Services.

Amongst the new listings, Jaypee Infratech got thrashed really on the listing day, was down almost 10%, has been seeing consecutive days of bad market performance, it has really been thrashed but somewhere it seems to have stabilised around those 80 odd levels. What's your call on Jaypee Infratech?

Jaypee Infratech remains a decent long-term investment prospect but the falls that we have seen post listing, this has got more to do with the overall market scenario. Like I mentioned a little earlier, you had stocks right from the large cap to the small cap space irrespective of performance. They are being dragged down because of lack of interest and negative sentiment, fear which has been prevailing in the markets, so that has got more to do with Jaypee Infratech also coming down rather than if we are talking of the valuation perspective or the investment perspective, I feel that the stock over a long term could be a decent investment but in the near term, yeah, I would not advise anyone to get into this space.