Lanco will take some time to get into uptrend: Deepak Mohoni

In a chat with ET Now, Deepak Mohoni, Director, trendwatchindia.com, shares his views on the outlook of the infrastructure stocks.

Apart from Lanco Infra, a lot of other infra names are falling today. Do you see a reversal in the trend line?

A reversal will not come until the market starts going up. Lanco was anyway one of the stocks to fall a little sharply. It just had a two-day strong rally early February but besides that it has done nothing very much. It has fallen more than 50% from its recent peak of about Rs 70 in September-October.

If you look at the other infrastructure stocks like GMR, which has been at least in a range little bit above its recent bottom, some hope of consolidation. However, Lanco has got still some more work to do. We need 2-3 things to happen here: one is a market revival, then the infrastructure picking up again and then we would get the slight laggard stocks in the sector also joining into the foray.