Many good real estate players impacted: Prakash Diwan

ET Now: What have you made of the selling that we have seen in the real estate space but the index itself losing about 13% last week, is it a typical case of high beta selling?


Prakash Diwan: It is high beta over leveraged kind of balance sheet which are absolutely not getting in favour and what is happening is because of any positive triggers where there could be some buying in these counters the bears have a feel day hammering these stocks and than nobody to kind of come to the rescue. It is more of a technical advantage that the bears have in the market for such stocks where people just refuse to kind of come and start buying even lower levels. So some of the good real estate players have also got impacted the likes of Puravankara, Omaxe. They are some very fundamentally strong names.