Do not sell & do not buy either; just wait, says Deven Choksey

Deven Choksey, Managing Director, KR Choksey Investement Managers, says even if Brexit happens, there are still 18 months for the real exit to happen. UK will leave EU only by December 31, 2017.

So, there is no need to sell out but do not buy either, take a wait and watch approach, he says.

In the coming 18 months a lot of things will change and the country as well companies that are exposed to UK will reposition themselves. Business environment will change, which could be interesting, says Choksey in an interview to CNBC-TV18.

Moreover, most Indian companies are domestic-oriented and nothing is going to change overnight for them and many things would change in the next 18 months, so, wait for clarity to emerge before taking drastic steps.