Hold NHPC for long term, says Thununguntla

Jagannadham Thununguntla, Strategist & Head of Research at SMC Global Securities recommended holding NHPC for long term.

Thununguntla told CNBC-TV18, “If he has made up his mind that he doesn’t want to see loss in NHPC then he has to still stay invested. He would have come for a short term trade, but market has forced him to become a long term trader. So, he has to stay invested. I don’t think he will be making money anytime in the near future.”
“Power stocks any way are not in favour of the market. Considering the current political scenario government will not be in a position to do any power reforms. NHPC is not a very under priced stock. So, considering all that, it will take considerable amount of time for him to make money on this,” Thununguntla said.