Jul 15, 2013 04:37 PM IST | Source: CNBC-TV18

Sell Sintex Industries, says Phani Sekhar

Phani Sekhar, Fund Manager of Angel Broking is of the opinion that one may sell Sintex Industries as the valuations of the company are not very flattering and advises to look for some other stocks.

Phani Sekhar, Fund Manager of Angel Broking told CNBC-TV18, "If one looks at all the three verticals of Sintex Industries from building products to custom moldings to textiles, the first two are facing significant headwinds because of the state of the economy. Since the company has thought of maybe doing some capex out there the investors need to do a very thorough check about how much value it is going to generate."

"Other than that they have been unable to bring down leverage levels for the last two years consistently shows that not only the macro environment is tough but the kind of businesses that they have got themselves into have very limited bargaining power. On the balance since the valuations are not very flattering, I would say that it is a good idea to book losses and look at some other better stocks, " he added.

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