Hold DLF, says Hemen Kapadia

Hemen Kapadia of KR Choksey Securities told CNBC-TV18, "DLF has been in a long-term downtrend. It has been a perennial underperformer so to speak. Few months after listing from Rs 1,200 it has been making progressively lower-tops and bottom. We went to Rs 100 and now we are recovering. Is this a big turnaround I don’t know? We have had at least seven attempts like this is in the last six years and we have gone nowhere. So, one needs to be a bit cautious, keep stoploss of Rs 113 and target of Rs 142. Currently it seems like a hold simply because there has been delivery marking, simply because the stock has recovered and held on to levels."At 14:56 hrs DLF was quoting at Rs 119.10, down Rs 7.60, or 6 percent on the BSE.The share touched its 52-week high Rs 203 and 52-week low Rs 94.35 on 20 August, 2014 and 29 July, 2015, respectively.