Mehraboon Irani positive on Reliance Infra

Irani told CNBC-TV18, "I think yesterday only I was actually looking at the way some of these front-line names have performed from the 2008 highs and Reliance Communications which was quoting at Rs 700-800 now quoting at Rs 55. I am trying to think that the only way this stock has to go is go up."

He further added, "I think one can come to such a conclusion. Whether one should go short at Rs 55 I feel very sad to say that one can definitely contemplate doing that because I think the problems which the sector is facing as far as the regulator’s inaction goes and the question mark as to what is ultimately going to happen to the 2G spectrum auction and Reliance Infotel’s entry over the next 12 months, I think it’s honestly a very difficult call. So at Rs 55-53 does it offer value or was it the time to exit giving up a little too late honestly as far RCom goes. As far as other sectors in the ADAG Group goes I think the only company which I personally looking at a little bit positively is Reliance Infrastructure."