Prefer Godrej Properties, Ashiana Housing: Nooresh Merani

Nooresh Merani of Analyse India told CNBC-TV18, "If you look at Indiabulls Real Estate, it might be down 18 percent in the last one year but it is almost down 50-80 percent in the last five-seven years. So what we have seen is in the real estate sector, it has always in a downtrend for the last five-seven years. At the same time, there are other opportunities in the same segment like Godrej Properties or Ashiana Housing. So I would suggest the investor to shift out of Indiabulls Real Estate and look for some stable companies, which are in a good uptrend on a technical and a fundamental basis. So the other two options would be Godrej and Ashiana Housing and exit on Indiabulls Real Estate."

At 15:08 hrs Godrej Properties was quoting at Rs 240.55, up Rs 1.20, or 0.50 percent.

nooreshm_ibrealty_ys_19mayDisclosure: Analyst doesn't hold the above stock.