Exit Pipavav Defence, says Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Pipavav Defence is a news based story and you do not know what the future holds, it may take many years before the outcome can be as positive as we imagine. So at this point you do not want to be there. It is not for retail investors. Exit the stock and invest in banks, pharma and IT."

At 11:36 hrs Pipavav Defence and Offshore Engineering Company was quoting at Rs 68.85, down Rs 7.65, or 10 percent.It has touched an intraday high of Rs 68.85 and an intraday low of Rs 68.85.