Prefer REC over Adani Power: Avinnash Gorakssakar

Avinnash Gorakssakar, Market Expert told CNBC-TV18, "Adani Power still continues to make operating losses and recently with imported coal getting unviable, they have made huge investments and now these investments are not yielding them the kind of return. So I would believe that the investor can switch over to something like an Rural Electrification Corporation (REC) within the power distribution space. Here the stock trades at around Rs 168-170 levels."

"The power distribution business is much more better than frontline power companies and I think if the investor can hold on for a brief medium-term kind of a horizon, one could definitely make a decent risk reward ratio, so better to switch and exit from Adani Power," he added.