May 16, 2013 05:15 PM IST | Source: CNBC-TV18

Exit Manappuram Finance, says Parag Doctor

One can exit Manappuram Finance and switch to a largecap stock like HDFC, says Parag Doctor, Head - Trading Strategies at Keynote Capital's Ltd.

Parag Doctor, Head - Trading Strategies, Keynote Capital's Ltd told CNBC-TV18, "Manappuram Finance has been sinking, making new 52-week lows and I think it has lost 50-60 percent maybe in the last few months, so there is no sign of any uptrend and the best advice in such cases is just move out of the stock, exit and maybe switch to a largecap name like HDFC, which is part of the Nifty."

He further added, "Basically, the next part of rally is going to be driven by largecaps and I would expect maybe atleast in next year or so, smaller stocks are not going to give any kind of traction on the upside. So, it is best to really switch to largecaps and hope for better returns from them."

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