Exit AXISCADES Engineering Technologies: Ashu Madan

Ashu Madan of Religare Securities told CNBC-TV18, "We have seen consistently subdued performance by AXISCADES Engineering Technologies and the space where they are in, it is a difficult space to be. It looks fancy at one point in time. But I do not see any reason that why one should be holding because these underperformers and dismal performing stocks and balance sheets, one should not hold in these times."

"Look at the index. We are at 10,000. If at 10,000, with all the song and dance about the market, still companies are underperforming then you can imagine what will happen if we see some corrective phase. So I would say that at first available opportunity get out of this stock," he added.