Hold Prabhat Dairy, says Sharmila Joshi

Sharmila Joshi of sharmilajoshi.com told CNBC-TV18, "InPrabhat Dairy, the valuation even at this price seems a little high. But the management has come out with encouraging commentary where they say because of the new plant, things will look better in FY17, etc. So, it clearly means that the outlook on the stock becomes very long term.""At this price, for me the stock is a hold and it is best that one just waits for a little bit of a bounce and then looks to exit the stock," she added.