Rajesh Agarwal, Director - Research at Eastern Financiers Limited told CNBC-TV18, "I would suggest a sell on Raymond because in the short-term I do not think anything is going to happen in this stock on the fundamental side at least. As we all know that the company has been reporting losses since number of quarters, the first quarter loss was around Rs 50 crore and we do not believe that in the next 2-3 quarters something is going to happen and bottom-line is now going to come into black.”
“Although the second and third quarters are better for companies like Raymond because of their sales due to festivals and wedding season, but still I do not think on fundamental side the performance is going to improve,” he added.
“It is better to exit this counter at this point of time. If one wants to play a very short-term time horizon pharma and IT are giving better opportunities. One can switch to maybe a Lupin or a Sun Pharma in pharma or in IT one can look at Tech Mahindra or MindTree.”
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