Exit Reliance Capital, hold Reliance Ind: Lancelot D'Cunha

Lancelot D'Cunha, CEO at ITI Wealth management told CNBC-TV18, "The investors should exit Reliance Capital and hold on to Reliance Industries because in Reliance Capital the fundamentals are under stress at this point in time. The stock has moved up on the fact that there was a banking licence application but now that has not come through. You are seeing unwinding of investor positions there.”

Reliance Capital ended at Rs 520.10, down Rs 24.70, or 4.53 percent.

The share touched its 52-week high Rs 668.40 and 52-week low Rs 311.75 on 09 June, 2014 and 28 February, 2014, respectively.

Disclosure: Network 18, which publishes moneycontrol.com, is now part of the Reliance Group