Keep holding IFCI: Hemant Kale

In an interview with ET Now, Hemant Kale, MD, Maia Financial Services Pvt., shares his views on the outlook of TFCI and IFCI.

What is your call on TFCI and IFCI?

We are having overlapping ways in Tourism Finance. More of a complex type of a correction to be seen, nothing much can be derived about this stock currently from the trading perspective, neither from the bullish side not from the bearish side.

IFCI is going to be more of a range bound movement for some period of time because last month IFCI was moving in a range bound formation and this range bound formation will continue. May be on the upper side it is about Rs 80 and the lower side about Rs 52.

So people who hold stock IFCI in their portfolio what should they do, should they exit?

Not really because there is an upward moving trend line. Price activity is trading above the trend line. The current trend line is at 52 level. So, those in position should definitely keep holding IFCI.