Power sector to underperform, says Ashu Madan

Ashu Madan of Religare Securities told CNBC-TV18, "I still feel that power sector would continue to underperform. I don’t see any major spurt. It is only when there is a particular newsflow around some government action is expected. You tend to see some kind of movement in these power stocks but other than that, I don’t see - unless you have a specific reason, there are so many other stocks - the major returns could be expected from this stock."He further added, "Transmission still is a better buy considering the fact that probably in our country the power situation will certainly increase and transmission would be a challenge, so it can give us a good upside but overall power as a theme I am still not gung-ho about that."