An upside may be possible for DLF: Deven Choksey, MD, KR Choksey Securities

In a chat with ET Now, Deven Choksey, MD, KR Choksey Securities, shares his views on DLF.

ET Now: There are news reports this morning that DLF perhaps may have sold its hotel to Kolkata consortium for a sum total of Rs 567 crore. Do you think this news could materially impact the stock movement as well?

Deven Choksey: In a normal market, it could have definitely impacted this particular news flow as a positive and the stock probably would have demanded the positive attention from most of the investors. But in this market, probably this sector itself is not assuming greater amount of priority from the fund side. Not many funds have mandate to invest because they would probably think that this is an area which is still lot of garbage is yet to come out of the system. So, not many people are wanting to buy into this particular area, the investment sector itself, forget about the company. DLF, within the space, would demand attention in a normal kind of a market, wherein people would come for it, buy as a first priority. But as of now, market would be very enthused to buy into this particular stock given this news. Maybe some knee jerk reaction and an upside could be possible in this kind of an environment but not seeing a serious investment.