Expectation of overall revival driving stocks like Gati, Punj Lloyd: Jagannadham Thunuguntla, SMC Global Securities

In a chat with ET Now, Jagannadham Thunuguntla, Head of Research, SMC Global Securities, shares his views on Punj Lloyd and Gati.

ET Now: Some of the engineering infrastructure ancillary businesses have done well. Punj Lloyd has picked up about 10% for the second day on the trot. Then there is also Gati which is up 10%. How do you look at it?

Jagannadham Thunuguntla: Gati is a theme where a lot of investors are still interested in. But one has to be a little careful in terms of being in the industry and the debt levels.

But if somebody is betting on the overall revival, then it is alright. But if somebody is betting just on the basis of these stocks being front-liners, then I am not so sure.