Exit IFCI, prefer ICICI Bank, IDFC: Sukhani

Sudarshan Sukhani, s2analytics.com is of the view that one should exit IFCI and can prefer ICICI Bank or IDFC.

Sukhani told CNBC-TV18, “It is possible that IFCI may go to Rs 35-36 that is likelihood. Long-term investor can stays with the best quality. One should switch from IFCI either into a simple financial bank - ICICI Bank is an excellent suggestion - or if one wants to stay with a financial institution then IDFC; maybe can switch half into ICICI Bank and half into IDFC but should get out of IFCI.”
He further added, “If one is sitting on big losses then there are two ways of handling such problems. One is that you forget about it. There is no question of averaging but you just forget that you own the stock. If this is going to be a turnaround then at some point, you will get better price because sometimes selling it gets nothing at all. Second is that if there is still value in selling, for example in IFCI there is value, then switch.”