SENSEX NIFTY
Jul 15, 2013, 04.04 PM IST | Source: CNBC-TV18

Sell Sintex Industries, says Rajesh Agarwal

According to Rajesh Agarwal, Head of Research of Eastern Financiers, one may sell Sintex Industries. "They reported flat profits despite the forex losses were lesser than last year by around Rs 20 crore," he adds.

Rajesh Agarwal, Head of Research of Eastern Financiers told CNBC-TV18, " Sintex Industries reported numbers on Friday and the numbers were pretty flat with almost all the divisions except the prefabricated division showing drop in margins. They reported flat profits despite the fact that the forex losses were lesser than last year by around Rs 20 crore. The margins are not going to improve in the very short-term. They are planning to do a capex for textiles by around 2 lakh spindles. So, all this is going to put strain on the balance sheet."

"I would suggest a sell on the stock because at least for the short to medium-term I don't think anything is going to happen in the stock. It is better to sell and switch to some other stock," Agarwal said.

Also Read: Custom moulding biz to drive growth in FY14: Sintex

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