Pressure to continue on Lanco Infra, IVRCL, GVK: Harihar

TS Harihar, Co-Head Institutional Derivatives, ICICI Securities feels that pressure will continue on Lanco Infra, IVRCL and GVK.

Harihar told CNBC-TV18, "There are problems in Lanco Infra, IVRCL and GVK, because when I look at the derivatives data there seems to be a real urgency among people to close their long positions and not surprising, because the kind of news flow that we have seen on stocks like GTL, GTL Infra, Lanco, Orchid etc. people are concerned that most of these small to mid infrastructure plays have problems either in terms of too much of promoters stake being pledged or coming up redemptions/convergence on FCCBs either in 2011 or 2012."
He further added, "When we speak to traders and investors there seems to be a scare among all of them about taking fresh positions on these infra stocks. So I think at least for the short to foreseeable future we believe that pressure on these stocks will continue."