Good time for investors to move out of USL: Prakash Diwan

In a chat with ET Now, Prakash Diwan, Director, Altamount Capital Management, shares his view on USL. Excerpts:

ET Now: USL has reported a fat loss for FY14 and they have taken a one-time charge of about 4000 crore. Don't you think the stock should have just collapsed?

Prakash Diwan: Disappeared absolutely. It is like the other day we had the Supreme Court for DLF which wiped out one year’s profitability for the company but still it bounced back. Of course today is a different story. So people tend to take time to digest these kind of lumpy events and my sense is USL will probably take it on the chin very soon. So it is a good time for people to move out if they are still holding on to those clutching on to those profits and for a lower levels, it could probably be again a different story that you could revalue it.