Stay away from IVRCL, GMR Infra: Mohindar

Rahul Mohindar, Director, viratechindia.com advices investors to stay away from IVRCL and GMR Infra.

Mohindar told CNBC-TV18, "GMR Infra still looks weak, so one could continue even putting on fresh shorts there. On a percentile basis these stocks will tend to obviously lose much more. They are high beta names and their values are terrifically low. But even now the pain is not over. IVRCL, GMR across the board I would expect cuts of over 10%, so from short-term definite stay away on this sector."
He further added, "Lanco is driven by its own problems. So I think this sector certainly continues to look heavy and not an area where one should try and bottom fish."