Avoid Reliance Defence, says Shahina Mukadam

Shahina Mukadam, Independent Market Expert told CNBC-TV18, "There are big plans and defence is a big opening area. 5-10 years down the line, they may make it big. As of now, I would say that Reliance Defence has given a good rally and I would suggest that one should book out."She further added, "Defence is a very long gestation and as of now, the company is not making any profits. They have moved into profit from only this quarter but that was more on account of the other income. So operationally, I think they are still in the red. So I would avoid this company as of now and maybe relook at it after some concrete defence orders come into play and they start generating income from that."