Book some profits in rail stocks: Irani

Excerpts from Your Stocks on CNBC-TV18 Watch the full show » Nifty BSE | NSE 13/02/12 Are Mutual Funds betting on Nifty?

Mehraboon Irani , Centrum Broking is of the view that one can book some profits in rail stocks.

Irani told CNBC-TV18, "We need to understand. I have always believed in one thing that the market normally loves to anticipate things in advance and starts building it into the price. So if the things live up to the expectations, the realizations and everything is not going to get reflected in the balance sheet and the P&L accounts over the next 6-12 months. So definitely things normally cool down and that is exactly what you had stated, looking at this year's budget and some of the stocks which could directly be benefited if the proposals come through and assuming if it comes through, I think they have already run up a little bit too sharply. We would like to believe that they would end up ultimately benefiting, but considering the present condition, if I were sitting on those stocks, I would love and rush to do some bit of profits."