Hold Shakti Pumps at current price: Avinnash Gorakssakar

In a chat with ET Now, Avinnash Gorakssakar, Head of Research, Mintdirect.com, shares his view on Shakti Pumps.

ET Now: There is strength in Shakti Pumps, may be not today but otherwise it has done very well, would you still be comfortable buying it because you had recommended this way before or are you in fact recommending booking profits here?

Avinnash Gorakssakar: If you take the shorter term picture over the next couple of quarters, earnings are more or less discounted but if you look at a scenario for FY16 and beyond, definitely some more announcements from the company on the solar space would be coming in and that is an area which even the government is boosting.

So, I would be more or less suggesting that probably investors who actually had entered the stock earlier should book out some profits and probably over the next 12-15 months, one could get a good upside but at the current price it is a hold.