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Hold Parsvnath for better value in coming mths
Sajiv Dhawan of JV Capital Services believes that at the current level, Parsvnath Developers is a hold and one is likely to see higher levels over the coming months.
Sajiv Dhawan of JV Capital Services believes that at the current level, Parsvnath Developers is a hold and one is likely to see higher levels over the coming months.
Dhawan told CNBC-TV18, "Parsvnath Developers has been a good listing obviously for smaller investors. I think HNI and maybe investors who got the issue finance might have found it a bit difficult and that's maybe why it sort of cracked down from Rs 530 suddenly to Rs 510 levels. A lot of people may get a bit nervous to that sort of level and exited but there is enough appetite and demand for the stock. Valuations compared to some of the real estate stocks are reasonable. So, it could be a case of people getting out of Unitech and getting into Parsvnath."
He further added, "I think you could see that over the coming months, more and more real estate stocks coming to the markets. But each gets rated by individuals and analysts and you will see some churn from one stock to the other. But at the current level it's a hold and you are likely to see higher levels over the coming months."
"It's in the right sector obviously very positive speeches and talks given by the management today. So any medium term investor - no reason to sell out just yet and as you said if it does crack 5-10% from current levels, I think it definitely worth looking into again", he further added.
He further added, "I think you could see that over the coming months, more and more real estate stocks coming to the markets. But each gets rated by individuals and analysts and you will see some churn from one stock to the other. But at the current level it's a hold and you are likely to see higher levels over the coming months."
