Sep 18, 2013 03:57 PM IST | Source: CNBC-TV18

Exit HDIL, says Ashu Madan

Ashu Madan of Religare Securities is of the view that one may exit Housing Development and Infrastructure (HDIL).

Ashu Madan of Religare Securities told CNBC-TV18, “Housing Development and Infrastructure (HDIL) is one of the worst performing stocks in the real estate sector. It has been surrounded by the negative newsflow including sell of shares by the promoters for repayment etc and various other litigations. It doesn’t look like that this is the sector one has to be in and within that sector, HDIL will underperform as far as overall sector is concerned.”

“We tend to advise investors that if we have a long-term horizon they should stick or hold to the stock but it is advisable to get into some other stock or a sector than to be in the real estate. So one good opportunity if you get some spike in the stock one should get out,” he added.

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