Monday 6 October 2008

Exit Punj Lloyd, says Madan

Ashu Madan, National Head of Religare Securities is of the view that one should exit Punj Lloyd at the first available opportunity and wait for a while to look at and have a relook into the entire space put together.

Madan told CNBC-TV18, "Punj Lloyd has an interesting specification in the sense term that fundamentally the order book is with a better margin once that legacy is over. But at the same time, if you look at the specifics at the current earnings, it is 25-30% expensive than the index or the other construction peers in the space. But at the same time if you compare it L&T it is at a discount of 25-30% so it is how you take it but as a cautious call I would go for that camp where it is still expensive 25-30% to the peers. So still there is room to go down, so I will get out at the first available opportunity and wait for a while to look at and have a relook into the entire space put together."

Disclosure: Analyst doesn't hold the above stock.

Source: MoneyControl

Posted by Harsh at 06:57

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