Keep long-term support of Rs 18 in Hotel Leela: Ashu Madan

Ashu Madan, President of Core Client Group at Religare Securities told CNBC-TV18, “Last many years I have been watching Hotel Leela. It has not given any return to any investor whether a long-term or a short-term. During the year couple of times we see some spike, but at the end of the day the net result is it has breached all lower levels. So, whether it is a trader or an investor most of the people buy such kind of a stock just because the absolute value is very low, Rs 20-30 stock.”

“However, if you look at overall fundamentals it is not favourable, but still for this investor or a trader I would say that he should keep the long-term support of Rs 18 as a stop loss and probably he will see some upside. However, I don’t see any reason to hold it for a year or six months or more than that. There is no logic in holding this stock as an investment,” Madan added.