Jagannadham Thununguntla, Strategist & Head of Research, SMC Global Securities told CNBC-TV18, "One has to exit from Lanco Infratech. Same applies to GMR Infrastructure, GVK Power & Infrastructure, everybody is buying thinking that once the stock reaches single digit mark how far it can go. It can go much lower."
"The industry is in such doldrums and on top of that so much of debt is on the books. Debt of many of these companies is about six-seven times that of the market capitalistaion. It is a clear exit," he said. Also Read: Lanco's Udupi power plant sale hits hurdle: SourcesDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
