Hold Dena Bank, Fortis Healthcare: Phani Sekhar

Phani Sekhar, Fund Manager-PMS at Angel Broking told CNBC-TV18, "One can continue to stay invested in Dena Bank and Fortis Healthcare. On Adani Power I have second thoughts because it is at the end of the day, a fixed return business regulated return on equity (RoE) business more or less on a basket basis. Adani has stated ambition of becoming the largest private power producer and to that extent they are making the right moves. Having said that valuations even at these levels seem to be pretty expensive considering the fact that it will take some time for the operational assets to start contributing meaningfully to profits, which will take the ROEs to meaningful levels."

"One can exit Adani Power and advises to getting into a private bank like an Axis Bank or an ICICI Bank," he added.