Exit Suzlon Energy at Rs 83: Joshi

Exit Suzlon Energy at Rs 83, says Sharmila Joshi, Investment Advisor.

Joshi told CNBC-TV18, "I wish we could lay aside the debt repayment plan because I really think that is where the key lies. If you just look at the business and the kind of order book that they have and the way the stock has fallen off it looks okay but the point is that what really happens going ahead. Unless they are able to sell off their Hansen stake and banks to agree to some kind of a restructuring plan as far as their debt goes things could look very sticky for Suzlon going ahead. I am sorry but the prognosis here is not so good so I would take advantage of this bounce back that is there in this stock as well as watch the news flow because the next couple of months are going to be very crucial for Suzlon in that sense. If the investor gets level of Rs 83 one should fully use that and exit the stock because I do not really think that it is going to go back to Rs 103 in any hurry."

Disclosure: I do not have a personal holding in any of the above stock.