Avoid HDIL, DB Realty, says ICICI Direct

Amit Gupta of ICICI Direct said he would be cautious on HDIL and DB Realty. He would avoid these stocks right now, he added.
 
Gupta told CNBC-TV18, “If you look at particularly the stocks like Housing Development and Infrastructure Ltd (HDIL) or DB Realty recently, especially in HDIL we have seen the fresh shorts have been added. Whenever the stock is moving up, you see some kind of short covering because of that. I do not take out much out of this because very significantly they have come down. So, I would be cautious and I will avoid these stocks right now.”
 
“In the construction space, the same kind of activity we saw in IVRCL. To my surprise, these stocks remain in a band for quite a long period. I think IVRCL remains there for quite a long and now it is giving up,” Gupta added.