Exit Suzlon Energy: Sharmila Joshi

Sharmila Joshi, Head of Equities, Fairwealth Securities is of the view that one can exit Suzlon Energy.

Joshi told CNBC-TV18, “Suzlon numbers were disappointing. Perhaps the market was expecting a loss in the range of Rs 115 crore thereabouts and we have got I think almost double that. So I think given that as well as the fact that this is not a stock that one should look at in a market like this. Because simply stocks where debt is very high and results are not good are punished more and out of hand then stocks where numbers are better. So I think for the next six months at least Rs 27 doesn’t look very likely.”
She further added, “I would really recommend a sell if you were to get a slightly better market in a couple of weeks and if you see a little momentum come into these stocks just look to exit if you get a price of Rs 21-22. I think there are far better stocks available at good valuations in this market, which you can invest in.”
“I would say if you want to switch and if you want to stay within the capital good infra space why don’t you look at Voltas, which actually declared a good set of numbers and was beaten down also simply because market though that following Blue Star numbers you will get bad numbers from Voltas. So I think look at that. But I think exit Suzlon for sure.”