Sharmila Joshi, head of equity at Peerless Securities told CNBC-TV18, "I would say hold IVRCL. Things definitely don't look good and the major improvement that we will see would be when the capex cycle returns and I do not think that IVRCL is alone in this."
She further added, "There are a lot of companies, which are facing tremendous pressure. But what we have also seen as a phenomenon in this last couple of days is that some of these Rs 20-30-40 F&O stocks have taken it on the chin and they are feeling a pressure more than a lot of other stocks."
"So, I think that allowing this situation to stabilise itself, we could see possibly the stock return to Rs 18-19 levels and then from thereon we have to wait for the fundamentals of the company to improve. This company has been talking of monetizing assets and yes, if we were to see the capex cycle return, which is again maybe one-two quarters away then we would see the real improvement coming into this company."
"So, if ones horizon is slightly longer then it is a definite hold, but even if it is not, I think this is absolutely not the time to go and sell it. Give it at least a week and then revisit it," Joshi said.
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