Stay away from Sesa Goa, says Nitin Raheja

Raheja told CNBC-TV18, “I would stick away from Sesa Goa at this point of time although it has come off quite sharply. If one looks at it purely on a fundamental basis, but the whole lack of clarity in terms of how this is finally going to transpire, this whole merger proposal is not going to be easy. I am sure there will be resistance coming in at various levels and so on and so forth. So I would stay away from the stock at this level.”

He further added, “We continue to be positive on banking pact, but again we prefer some of the private sector banks that we would love to look at if we get some sort of a correction. So we like an IndusInd Bank on one side, we like a Federal Bank on the other side and ING Vysya and so on so forth. So it’s really again some of the midcap private sector banks where we are seeing aggressive growth happening.”