Avoid buying JSPL and DLF due to uncertainity: Mehraboon Irani, Nirmal Bang Securities

In a chat with ET Now, Mehraboon Irani, Principal & Head- Pvt Client Group Business, Nirmal Bang Securities, shares his views on JSPL and DLF. Excerpts:

ET Now: In this rally would you advocate selling out of JSPL?

Mehraboon Irani: At this present level, a person who liked it at 220-230, should definitely like it more. When you have a cloud of uncertainty, always stay out whether it is JSPL or whether it is a DLF. These are stocks where the temptation is always going to come in the minds of traders and retail investors. There are always decent stocks which do not have any sort of controversy behind them. Those can be picked into.

Despite the fact that I like the stock at 220-230, I do not think I am going to come out and recommend the stock. There could be upside in the short run, reasons being, the coal ordinance. People will go and speculate and buy into these 500-400 stocks which are never available at 150-160. Let those people do what they want. On a fundamental basis, because of the uncertainty, I am not going to recommend JSPL neither DLF in the real estate space.