J P Associates

Our stock idea J P Asso. has fallen from the high of Rs. 510 (on 04.01.08) to Rs. 243 now. fall of 50% in less than 2 months.

Main reason for the fall in the stock price (apart from market correction over last 2 months) is : Controversy about the statement made in DSP Merrill conf bout its holding in Taj Expressway (co. had subsequntly confirmed that J P Asso. has 100% holding and will continue to hold the same going forward also)

ICICI Venture which had planned to pick up stake in J P Infra, a subsidiary of JP Assco. (which would have got valuation of Rs. 30,000 crore) has been called off the deal recently.

Our overall view on the stock continues to be positive and we feel most of the negatives are factored and would advise clients to HOLD on to the stock with our target price of Rs. 484.