Sell Punj Lloyd on rallies, says Shahina Mukadam

Shahina Mukadam, Independent Market Expert told CNBC-TV18, "Punj Lloyd will be unable even to go much higher from current levels. So, in fact my recommendation to investors would be to book out. The problem is the debt is very high for the company. The debt if you see currently is close to about consolidated levels Rs 6,000 crore plus and the equity is around Rs 1,000 crore, the net worth basically. So, you can see the big problem is on interest which is very high." "Also, the revenue has been declining in the last three quarters. The company is not able to pay its interest also, it is running into losses. So, I think in such circumstances the stock is giving you a small bounce, it is better to get out, maybe a near-term, I would say Rs 24 in my view would be something which one can look at," she added.