Harihar's view on GMR Infra

In GMR Infra closer to Rs 41-42 most of positions will start unwinding, says TS Harihar, Co-Head Institutional Derivatives, ICICI Securities.

Harihar told CNBC-TV18, "GMR Infra has been seeing buying interest somewhere around Rs 31-32 when the stock corrected to those levels. We did see some amount of buying interesting coming in. I think with the PE news that has come out off-late there seems to be some fresh futures buying interest also, which was visible yesterday."
He further added, "But the whole problem with this particular stock is that, like most of the other infrastructure stocks they also have a huge debt overhang which is not a great short to medium-term positive for this stock. I would believe that most people are looking at more as traders. Closer to Rs 41-42 I would believe that most of these positions will start unwinding."