Exit Reliance Power, says Tulsian

Investment Advisor SP Tulsian is of the view that one can exit Reliance Power.

Tulsian told CNBC-TV18, "Reliance Power investors have really suffered a lot in this stock market. Most of them have got the shares in the IPO at around Rs 450 since then they got a bonus of about 60%, so the effective price is now at around Rs 210. But looking to the present state of the market having shares corrected a lot now people are not in a positions or they do not have the temperament to take a call on a company, which will be going into operation may be 3-4 years or may be 5 years down the line."

He further added, "In this scenario other power stocks also corrected like NTPC now ruling at around Rs 152 or may be Rs 155. It is a better switch that means one needs to have the courage that if one is remaining invested in Reliance Power expecting may be revival of the sentiment in the power sector that will give rise to other leading power producers also like Tata Power or may be like NTPC. So my call is that get out of the stock, there is nothing, you will keep may be seeing a rise of about may be Rs 10-15 which will ultimately get corrected and the better option would be to switch in some other stocks like NTPC or may be Tata Power."

Disclosure: Analyst doesn't hold the above stock.