Exit IRB Infrastructure below Rs 215, hold L&T: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "In IRB Infra, I would say that put a stop loss below Rs 215 on closing price basis. If it were to close below Rs 215, then I would suggest technically one should exit. If it really sustains, then Rs 265-270 could be the medium-term projection for IRB Infrastructure. However, below Rs 215 one should not hold on to this because then there could be a big fall."

"Philip Fisher once said that certain stocks are to be bought and they are never to be sold and perhaps Larsen and Toubro (L&T) is one such stock. There used to be a slogan amongst us in the early 90s that if you are bullish on India, then you have to be bullish on L&T because it is almost there in every form of development at least in the real sector. So, from that perspective, I would say that L&T definitely is a hold."

At 15:04 hrs IRB Infrastructure Developers was quoting at Rs 229.30, down Rs 2.80, or 1.21 percent. It has touched an intraday high of Rs 233.45 and an intraday low of Rs 228.55.