Exit power stocks: Thununguntla

Jagannadham Thununguntla, Strategist & Head of Research, SMC Global Securities Limited one should exit power stocks.

Thununguntla told CNBC-TV18, “Power stocks have completely become powerless. Indiabulls Power is no exception. I don’t see a reason why the stock has to move up so much because a lot was spoken about in India’s requirement of power needs and government reforms but nothing came to the rescue of the sector and stocks are absolute underperforming. I feel the caller should exit. It will be a painful decision but I think it makes sense to exit at any point.”