Exit HDIL, says Sharmila Joshi

Sharmila Joshi of Peerless Securities told CNBC-TV18, "Among the real estate plays there are very few stocks that I like and Housing Development and Infrastructure (HDIL) is not in that list. Therefore, two reasons; first, the talk that we have heard on the way inventory levels have piled up and the situation in Mumbai. When you look at the inventory levels is bad and HDIL does have a lot of projects in the Slum Rehabilitation Authority (SRA) part and around the Mumbai region. So, that doesn’t bode well for them and there are highly leveraged companies. So, in times like this where things are becoming more and more difficult for real estate companies to raise funds, things could get sticky for HDIL going ahead."

"It is good news that we have seen a bit of rally come into real estate stocks, so the investors should make use of this opportunity, this kind of bump up that we are seeing, ride it and exit the stock," she added.