Avoid DLF, JSPL: Mayuresh Joshi

Mayuresh Joshi of Angel Broking told CNBC-TV18, "I would avoid DLF and Jindal Steel & Power (JSPL) completely at this point of time. Apart from the news related stories on both these counters respectively I think the negative cash flows for DLF is not going to augur well. The presales as we have seen in last quarter are weak, they will continue to remain weak because of the oversupply in the NCR region and again I think the kind of contingent liabilities that DLF is carrying on its book does not augur well. So, though in terms of valuation it might be looking very attractive bet in terms of the assets that it has got but with the kind of fundamental changes that the stock is going through in terms of news flow it would not warrant a buy at the current levels."

"Similarly for Jindal Steel & Power the kind of enquiries that the company has received I think that would keep the stock under check. So, at this juncture a clear no on both these stocks from a buying perspective," he added.