DLF will not go beyond 233-235 levels: V K Sharma, HDFC Securities

In a chat with ET now, V K Sharma, Head of Business, Private Broking & Wealth Management HDFC Securities shares his views on various stocks.

ET Now: What is your call on DLF?

VK Sharma: If we were to look at the positions that are being made, fundamentally the company is doing all the right things. Whatever may have been the perception so far, if these companies go out and sell their land or get out of businesses which are not core to their original businesses, the investor is getting value. The debt is getting reduced and if tomorrow it were to sell more pieces of land it does two things.

It brings in cash which reduces the debt. Secondly, they also put in value to the assets which it holds already especially in the areas if it is selling part of the land where it sells only 10 acres. So, this augurs well but we could face some resistance coming up here and I do not think the current rally could hold or go beyond 23