Avoid infra stocks, says PN Vijay

PN Vijay, Portfolio Manager, askpnvijay.com advises traders to avoid infra stocks at current levels.

Vijay told CNBC-TV18, "My sense is next three to probably six months one needs to avoid these infra stocks because on the ground we need to see actual order flow getting translated into earnings. We also found last quarter, some orders being returned to likes the NHAI etc which is a very unusual situation."
He further added, "Even if there is some hope that the government is getting its act together and the prime minister himself is monitoring etc one needs to see that reflected in some form in order implementation. If one wants to play risk the real estate sector which is now pronouncedly more retail home oriented than commercial as it was few years ago is a much better pick than infrastructure which is really at the mercy of the babus, the bureaucrats and the politicians."