Accumulate IVRCL on dips: Agarwal

Accumulate IVRCL on dips, says Rajesh Agarwal, Head of Research, Eastern Financiers.

Agarwal told CNBC-TV18, "Infrastructure has two problems. One is slower order flow and the other is interest rate which we all know. But once this interest rate cycle which is going to peak out in the next one quarter or so starts coming down, I think these two problems will be taken care of. As far as valuations are concerned, some of the stocks in this sectors have been beaten down so much due to extreme pessimism that they are even trading at much lower than their net asset values."
He further added, "As far as IVRCL is concerned, I don