Exit Unitech, says Lancelot D'Cunha

Lancelot D'Cunha, CEO at ITI Wealth management told CNBC-TV18, "The real estate sector as a sector has been plagued by overcapacity of production as well as high input cost, there has been a demand slowdown. All this has impacted the real estate sector and it is not going to change in a big hurry, probably it will take at least another year or two before we can start to see some green shoots of recovery in real estate space.”

He further added, “Unitech also had the overhang of the 2G scam issues with the promoters. So the investors should move out of the stock and look at sectors where growth is anticipated, for example one can look at the engineering space or one can look at auto ancillaries where these sectors are now beginning to start showing signs of growth and over the next 12 months to 24 months he/she could get significant growth on good companies within this sector. Therefore, my advice is to cut position here and look at other alternative sectors to get growth in those sectors.”