May 11, 2013, 04.35 PM | Source: CNBC-TV18
One can exit some of his/her holdings in Reliance Communications, says PN Vijay, Portfolio Manager.
PN Vijay (more)
Portfolio Manager, askpnvijay.com | Capital Expertise: Equity - Fundamental ,IPO
He further added, “Reliance Communications, after Mukesh Ambani’s indirect entry into the company, surged from about Rs 70 to Rs 110 now, a huge run. It will be inadvisable to buy any more of Reliance Communications. Probably, it is time to exit some of your holdings."
"Even the other telecom companies, like Idea Cellular has had a huge bull run. Bharti Airtel has its share of problems in the African acquisitions where things are taking a bit longer for the debt to be sorted out and for the profitability to come in. So they are all company specific issues and they are also industries specific issues. So at the current levels, I would not advice people to increase their exposure to telecom. They would remain at best market performers in the next 12 months.”