Jyotivardhan Jaipuria underweight on power sector

Jyotivardhan Jaipuria, Head of Research at BoFA Merrill Lynch told CNBC-TV18, "At the moment, we have been underweight on power sector; we are not bullish on that sector. If somebody is willing to go with like a longer-term view, it is a sector which is beaten down, it is a sector which if things start improving could give you good return.”

He further added, “There is an election overhang, so what you have to hope is things fall into place. The momentum continues beyond elections; we get a lot of reforms happening and then the infrastructure starts picking up. There are lots of ifs and buts and at the moment we are avoiding it.”
“If you ask me closer to 2014 elections will we be more bullish in them possible we could be a little more bullish on that space closer to election, we just hope that things will be better once the elections are out of the way.”