Ashu Madan of Religare Securities advises exiting Unitech.
Ashu Madan of Religare Securities told CNBC-TV18, "Holding Unitech will not help. All along we have been talking about the fact that just because all these companies are low price, people think that they can buy any quantity and hold with a thought that this is the lowest price."
"I do not think this stock is going to go anywhere and the kind of price destruction and the breakdown which has happened, I would not be surprise even if it goes to much lower levels. So everyone knows the reality with all these high debt companies, what is happening in the real estate front, topline, bottomline everything is in a bad shape. Therefore, all I can say is to get out of this as soon as possible," he said.