Avoid Punj Lloyd advises Aashish Tater

Aashish Tater, Head of Research at Fortunewizard.com advised avoiding Punj Lloyd. He feels the value of stock is not beyond Rs 35-37.

Tater told CNBC-TV18, “From balance sheet perspective we have a sell rating on Punj Lloyd. We feel the value of this particular stock is not beyond Rs 35-37. So, this is a definite exit for someone who is holding small quantity like 300-400 shares. And for professional traders we are always upbeat on this particular stock. Every time it reaches Rs 52-55 zone there is a huge selling pressure that is visible on the stock. It has been disappointing for almost 12-13 quarters in terms of numbers. So, it is a avoid from our side.”