Avoid Punj Lloyd, says Shailesh Kanani

Avoid Punj Lloyd, says Shailesh Kanani, Angel Broking.

Kanani told CNBC-TV18, "We have been avoiding Punj Lloyd because this company has been missing its guidance, the 30% of its order has come from Libyan orders, which has been cancelled kind of and it has other issues as well, because order inflow for the whole sector has not that been great."

He further added, "On the hydro carbon front L&T, Punj Lloyd has also faced stiff competition from Korean players. So it is like not that great signs for Punj. Especially considering the majors like L&T are available at such valuations, it makes a sense for investors to look at L&T rather than Punj Lloyd."