Avoid DLF: Mehraboon Irani, Nirmal Bang Securities

Mehraboon Irani, Principal & Head-Pvt. Client Group Business, Nirmal Bang Securities, in a chat with ET Now, gives his stock recommendations


What to do with the real estate basket and DLF in particular?

The entire real estate pack has underperformed the market by a very wide margin. Now should we look at buying into this particular sector? Again the answer is ‘no’. Clear cut in many pockets across the country, there is a bubble, which has happened as far as real estate prices goes. In DLF, it is a sad state of affairs because of Rs 600 crores penalty, which has been imposed, which I am quite sure the company will challenge. It is going to be very difficult for DLF to attract investors despite the fact that the stock has come down so sharply, so honestly people can possibly buy it for accounts like here and there but from an investment angle despite the fact that the stock otherwise merits a little bit of attention, I am going to shy away from recommending this stock or the entire sector for some more time to come.