Exit Adani Power, says Nooresh Merani

Nooresh Merani, CEO at Analyse India told CNBC-TV18, "Technically Adani Power has been in a downtrend for quite some time and it is better to get out of the stock and get into some other stocks. If you look at market we are hitting all time highs and this stock is way away even from a monthly high. So I would prefer to get into stocks which are at all time highs rather than to Adani Power."

At 15:16 hrs Adani Power was quoting at Rs 45.25, down Rs 1.30, or 2.79 percent.

The share touched its 52-week high Rs 68.50 and 52-week low Rs 31.90 on 26 May, 2014 and 30 January, 2014, respectively.