Bearish on Reliance Capital, RInfra: Deven Choksey

In a chat with ET Now, Deven Choksey, MD, KR Choksey Securities, talks about ADAG Group stocks.

What is the call on ADAG Group stocks?

Of course the perception in the market has changed to a certain extent because of the Nippon deal on the insurance side and which is suggesting that Reliance Capital should possibly command little better price and the valuation vis-à-vis what it used to command prior to the deal and at the same time, the Reliance Infra company because they are trading below the book value, it is suggesting that it can probably look up. RComm is typical growth story but all this is known to the market and probably nobody is putting in fresh orders to buy ADAG Group stocks currently. Some amount of short covering has certainly taken place into the market and that is what has resulted into the stability into the prices.