Avoid Suzlon Energy: Irani

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Avoid Suzlon Energy: Irani

Mehraboon Irani of Centrum Broking is negative on Suzlon Energy.

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Excerpts from Your Stocks on CNBC-TV18 Watch the full show » ALSO READ See previous views by Mehraboon Irani See what other Experts & Brokerages are saying about Suzlon Energy See messages about Suzlon Energy Suzlon Energy BSE | NSE 10/02/12 Are Mutual Funds betting on Suzlon Energy?

Mehraboon Irani of Centrum Broking is negative on Suzlon Energy .

Irani told CNBC-TV18, "I have been negative on Suzlon Energy for over three years and I have been very vocal on it, from the time it was 4-5 times the present price. Irrespective of what the price is right now, I think there are reasons to continue to be negative on a fundamental basis. There could be bounce backs here and there, I wouldn't know about it and I don't care for them too much."

He further added, "I think the Story is virtually over as of now for Suzlon; Firstly, because of very poor first half numbers, Secondly there is an acute need for debt restructuring, three sale of stake in Hansen clearly shows that there is a clear level of financial distress as of now and no improvement in order book position. So with all these four things, I don't think any reason why any fundamental person, especially me at least would recommend the stock irrespective of the price of the stock right now, clear cut no."