Prefer JP Associates, says Devang Mehta

Prefer JP Associates, says Devang Mehta, Vice President & Head - Equity Sales, Anand Rathi Financial Services.

Mehta told CNBC-TV18, "We are not comfortable with Sesa Goa. We know that that this sector is not going to do well till the global turbulence last. Metal is anything that one should not be in at this point of time. Metal and mining will be facing a lot of pressure. Also Sesa Goa has this nag of getting into regulatory hurdles. There are lot of mining bans imposed. So one should very well come out of Sea Goa and be in some robust story or a stock, which can do well over a 1 or 2 year period."
He further added, "Something in infrastructure, which has seen a big valuation and price correction, like JP Associates, which is a prime player in infra as well as in cement. So you should be rather switching off from Sesa Goa to JP Associates."