Book profit in Punj Lloyd, says SP Tulsian

SP Tulsian, sptulsian.com advises traders to book profit in Punj Lloyd at current levels.

Tulsian told CNBC-TV18, “I have never been comfortable with Punj Lloyd. Maybe because if you really see their overseas contract and really the kind of working which has been posted by the company, maybe for last five to six years, probably you have the better stocks available in this space. Secondly, this Punj Lloyd and Hindustan Construction - two are the contracting plays which we have seen that rallies are not generally sustainable.”

He further added, “In this case also, I don’t know reason for this upmove but I don’t think that rally will really get sustained in the stock at the current levels. So I won’t advice. Those who are holding it, I will advice them to go for the profit booking.”