Mar 14, 2013, 05.02 PM IST | Source: CNBC-TV18

Hold Sintex Industries, says Phani Sekhar

According to Phani Sekhar, Fund Manager of Angel Broking, investor can either hold Sintex Industries on can book profits to re-enter again at lower levels.

According to Phani Sekhar, Fund Manager of Angel Broking, investor can either hold Sintex Industries on can book profits to re-enter again at lower levels.

Sekhar told CNBC-TV18, “The outlook for Sintex Industries is not exactly great. There will be challenges in both the prefab and the custom-moulding businesses over the next six to nine months, although over the last two quarters they have done well. But since there is a question mark on the complete capex story of the economy we will see Sintex struggling there.”

“Debt on its balance sheet is not certainly going to give you comfort. The working capital cycle has not eased to the extent that we would have liked. So considering all this, all the valuations are inexpensive. The stock might remain quite subdued over a period of next two quarters or so. So to that extent I guess the investor can either hold on or if he is making a small amount of money he can book his profits to maybe re-enter again at lower levels,” Sekhar added.

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