Avoid L&T Finance Holdings: Sudarshan Sukhani

One can avoid L&T Finance Holdings, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "L&T Finance Holdings is a disappointment. I thought it will hold on, but it has not. However, at Rs 75 it is still a better stock. One cannot short sell otherwise I would have said to sell. The idea is to avoid it perhaps it will get much stronger support in the Rs 68-70 zone then one should reappraise the trade. At this point it is to avoid because one cannot sell it."
At 13:25 hrs L&T Finance Holdings was quoting at Rs 74.30, down Rs 0.95, or 1.26 percent. It has touched an intraday high of Rs 75.40 and an intraday low of Rs 73.65.
The share touched its 52-week high Rs 97.35 and 52-week low Rs 41.65 on 19 December, 2012 and 15 May, 2012, respectively. Currently, it is trading 23.68 percent below its 52-week high and 78.39 percent above its 52-week low. Market capitalisation stands at Rs 12,755.53 crore.