Avoid textile sector for now: Mehrab Irani

In a chat with ET Now, Mehrab Irani, Investment Manager, Tata Investment Corporation Ltd, shares his views on textile sector. Excerpt:

What is your call on the textile sector?

I would not be very positive on the textile sector. They have not performed well historically and there have been lots of problems on individual stocks. Yes a couple of stocks may be good in the sector which are related to retail or even certain spinning mill company but otherwise I do not think there is much juice in it. Also, I do not get much confidence from the management over longer time. So, I would avoid the sector at this point of time.