Sell Punj Lloyd: Kamlesh Kotak

Sell Punj Lloyd, says Kamlesh Kotak, Asian Market Securities.

Kotak told CNBC-TV18, "We recommend a sell on Punj Lloyd. The company's presence across multiple geographies makes it vulnerable to the commodities and the currency prices that have been witnessed recently. The company's performance will also be impacted due to its high debt as also the slow pace of execution of the projects." He further added, "Outlook for leveraged infrastructure companies is not looking good in the current context and the stock is going to be under performing the broader market and hence we recommend a sell on the stock with a target of Rs 58." Click HERE to know the rules and follow the score card