Avoid Titan, growth is dicey: P Phani Sekhar

In a chat with ET Now, P Phani Sekhar, Fund Manager-PMS, Angel Broking, shares his recommendations.

ET Now: What is your call on Titan given what gold prices are doing, what would you do with the stock?

P Phani Sekhar: Well, avoid it because we never like even though it is in a good space but we never like stocks which quote at such hefty valuation multiples mainly based on growth because growth is something which is pretty dicey when you are factoring in this kind of multiple so we clearly avoid it. But may be on steeper declines it might be a good buy around 10% to 15% decline it might be a good idea.