Overhang on coal blocks may continue for JSPL: Deven Choksey

In a chat with ET Now, Deven Choksey, MD, K R Choksey Securities, shares his view on JSPL.

ET Now: What is your view on JSPL? What should existing investors do?

Deven Choksey: It is always a tricky situation when you want to consider stocks of companies that are running into controversies.

Though the High Court has restrained the government from transferring the blocks to Coal India, I would think that this particular overhang will continue for some time.

I do not carry any view on this company at large; we do not have a coverage either.

But, I do feel that investors who are invested into this company will have to closely watch the developments as they unfold from the legal point of view. They would also need to look at developments regarding the reallocation of coal blocks.

That is the area where the investors will have to probably keep an eye on. As I said, we do not have coverage, I would refrain from giving any kind of recommendation or a price target on this company.