Hold Pipavav Defence with long term view: Sharmila Joshi

Sharmila Joshi of sharmilajoshi.com told CNBC-TV18, "Pipavav Defence move from Rs 30 to Rs 120, Rs 120 was when euphoria must be high as that you will see big orders coming to Indian companies. Now because of the way markets are and because of the fact that we haven’t seen too much of that getting translated into real orders be little cautious because there is nothing else in the fundamentals to suggests why the stocks should even be at Rs 64.""Let see what the Budget says, let us see in the next three-four months if anything of that happens in the mean time if you see a bit of a bounce in midcap space and you get an exit price use it. Unless of course some material development as happened in the mean time. So, I would sell but for a five year view maybe one can stay put because there was stock of defence orders and we really haven’t seen that happening," she added.