Don't apply for DLF issue, says Vijay

Investment Advisor, PN Vijay feels that DLF is highly valued stock, so he has advised people not to apply for the same.

Vijay told CNBC-TV18, “DLF and Unitech, both are big Delhi companies. We like both of them but a bit unhappy at the DLF pricing given the controversy the company has had with its investors etc and given the tepid situation in the real estate after the Budget the pricing is just too aggressive. Pricing this issue at about 40 times earnings is I think the merchant banks got a bit too aggressive there. So on a purely valuation call we are telling people not to apply for DLF.”