Monday, 24 November 2008

Sell Deccan Chronicle: Joshi

Sharmila Joshi, VP of Systematix Shares & Stocks is of the view that one can sell Deccan Chronicle.

Joshi told CNBC-TV18, "For me Deccan Chronicle would be a sell. I too believe that the news flow coming from Deccan Chronicle whether it was their investment in IPL (Indian Premier League) in the team that they bought which was quite an expensive as well as their rollout in the financial additions that they were to start etc sounded quite exciting. But I do not think it has panned out nor has it shown in numbers plus they have to cut their advertising rates etc, I believe that in the cricket team also they would like to sell their 80% investment stake. So I do not think this is the stock to invest in at this point in time. So I would recommend a sell at this point in time."

Disclosure: Analyst doesn't hold the above stock.

Source: Moneycontrol

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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.