Ganesh Shanbhag, SMS Financial Services is not positive on Zenith Birla .
Shanbhag told CNBC-TV18, "Fundamentally Zenith Birla has been dealing in a lot of problems and they have re-structured the company. They have reported a profit of around Rs 4 crore in the first six months. This year which is a growth of 238% over last years loss. But since they are going to come up with an IPO. I think valuations will stretch for sometime. I would recommend a sell on this stock because the IPO float coming into the market, one will see more stocks in the market and dilution in equity. I am not too positive about this company."
