Wait and watch JP Power: Sudip Bandyopadhyay

In a chat with ET Now, Sudip Bandyopadhyay, President, Destimoney Securities Pvt Ltd, shares his views on JP Power. Excerpt:

ET Now: JP Power is one more stock that has done very well and there is a board meet of course slated tomorrow and what we have learnt is that the decision about or the talk of that hydropower stake sale would probably be announced tomorrow. My question is very simply if indeed they are reducing their debt and JP Power that is not Associate and if indeed they manage to sell two of their hydropower plants is that a big positive for JP Power or you would still not indulge into it?

Sudip Bandyopadhyay: Well I will continue with my cautious stand on the entire group because of the debt levels and they are really worrying but specifically for JP Power. This particular incidence of high beam of stake in some of the power plants which they are talking about there is a good development for the company and it will augur well in the long run for the company but my cautious stand will continue, we will have to wait and watch. We will have to still see lot more debt reduction for the group as a whole and these two companies in particular before we take any call.