Buy GMR Infra around Rs 24- 25, says Ambareesh Baliga, COO, Way2Wealth.
Baliga told CNBC-TV18, "I have been negative on real estate space for quite a while, the last 12-15 months. I still continue to be negative atleast for a while longer, till we really see the property prices correcting much more from here because of which you will see the stock prices also falling."
He further added, "I would not look at realty atleast till possibly August-September this year. When it comes to infra, we have seen a decent bounce back from the lower levels. So, at this point of time I may not really pick up, but surely we should see some correction and that is the time I will start buying. We were discussing GMR Infra a few days back, at levels of Rs 29-31 we were actually selling off whatever we bought at Rs 18-20 levels. We booked out to a certain extent, but at the same time if we see the stock coming down to levels of about Rs 24-25 - I don't see Rs 18-20 again, but incase we see Rs 24-25 we will surely buy back."
