Short Petronet LNG, says Prakash Diwan

Short Petronet LNG, says Prakash Diwan of Asit C Mehta Investment Intermediates.

Diwan told CNBC-TV18, "We have seen a huge run up in Petronet LNG, thanks to the recent results and announcement of scaling up of capacities. But we need to understand the fact that the capacities are all going to be taking shape only after 2014-15 and that is fairly distinct for the stock to show this kind of upside. So possibly once the momentum abets we could probably see this stock coming back to realistic levels, so Petronet LNG is a short for the day with a target of Rs 166 and stop of Rs 180."