WWIL may not see uptrend in near term: Joshi

Sharmila Joshi, Head of Equities, Fairwealth Securities feels that WWIL may not see uptrend in near term.

Joshi told CNBC-TV18, “Wire and Wireless India (WWIL)has seen a huge run up so it’s a little difficult to think that it will do much more from here in the immediate future. But if one is talking of a long term then story that has to unfold for this is ofcourse the digitization bit and we just heard that it has gotten postponed by a couple of months. But I think once that happens then we will really see the value unlock for these plays."

She further added, "So, I think that clearly one needs to stay invested, see that digitization but happen and then see how things proceed for WWIL. But for a very near term I don’t really see it running up too much because as you said its already run from Rs 10 to this new high that it’s trading at and perhaps maybe a couple of rupees more but not much more until this event happens.”