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Aviation space not a favored sector : IL&FS
R Sreesankar of IL&FS Investsmart says, when the market went up to a great extent all of us were concerned about the effect that huge surplus liquidity within this system was having on the markets.
Deccan Aviation is a low cost airline so one gets a better deal. So there is enough competition happening in the domestic space even from the established airlines, so it is going to be a hard call.
Q: What you think of stocks like HDFC , BHEL as they have cracked and they are considered as bluechips?
A: Fundamentally, there is nothing wrong with them, they are looking good but I do believe that everyday it is a new stock, which is taking down. Many of these smallcaps are still going back into circuit by 5-10% down. So we are going to see a widening of valuation between the smallcaps and the midcaps.
Last month, Hindustan Lever was more than Rs 285 and now it is below Rs 200 so we have probably lost more than 30% in that stock. So these heavyweights can add to the fall and also in the fall of the Sensex also.
