It is not bright idea to invest in textiles sector: P Phani Sekhar

In an interview with ET Now, P Phani Sekhar, Fund Manager-PMS, Angel Broking, talks about textiles stock.

What is the call on textiles?

It is the policy makers job to sweeten things and smoothen the entire sector but at the end of the day each business is quite distinct and most of the sectors that the minsters referred to especially textile which has a major representation on the markets I am not a big fan of that sector for two simple reasons one is it is extremely capital intensive and it is not such a bright idea to invest in these kind of sectors.

Although it operates on interest rates, now there are murmurs that even those the debt that has been extended under this scheme the textile companies wanted to be restructured. Now it is a sad commentary on any business if it out of its commercial activity.