Sep 18, 2013, 04.01 PM | Source: CNBC-TV18
According to says Mayuresh Joshi of Angel Broking, one may exit Housing Development and Infrastructure (HDIL) on rallies.
Mayuresh Joshi (more)
Fund Manager - PMS, Angel Broking | Capital Expertise: Equity - Fundamental
He further added, “The ongoing dispute with Mumbai airport obviously is not auguring well for the stock. There is obviously some amount of corporate governance issues. So there is some amount of stickiness related to the stock performance and operational efficiencies of the stock were not reflected on to its profit and loss (P&L) in balance sheet.”
”Having said that, investor should possibly in my opinion exit the stock on rallies and if one needs to persistently look at the real estate sector itself, possibly Mahindra Lifespace on declines can be a better bet. Good land parcels, strong corporate governance, strong management is something which aids Mahindra Lifespaces.”
”For ambitious investor, DLF on declines with their strong annuity parcels and their land parcels should do well. Again I think the DLF story should be played out with deleveraging. If the management is indicating that it will be able to do asset sales related to Aman Resorts, a few land parcels even its SEZ and so on and so forth. If that does happen, that can create a huge amount of impetus on to the balance sheet of DLF over a longer period of time. So I think the investor can possibly exit the stock on rallies and look at the counters that we have been discussing.”