Not keen on Fortis and Appollo: Centrum Wealth Managers Ltd

Mehraboon Irani, Sr. VP, PMS, FCH, Centrum Wealth Managers Ltd, in a chat with ET Now talks about Fortis and Appollo.

Talking about Fortis and Apollo, would you choose either of these two at current levels?

No, none of them. Fortis, I have been negative about this stock when it was around at least Rs 22 higher on this present level. I have gone on record that when this company made this lovely acquisition, I am not disputing, it but honestly I see a problem on the balance sheet over the next 12-24 months. So I do not see any reason of screaming buy at the present level.

I am saying yes, acquisition is good, company is good, it is taking the right steps but at the end of it all I am concerned about my return on the investment, which I am making in this stock and there I do not see myself making too much of money - at least over the next few months. This is because there is going to be a tremendous pressure on the balance sheet, that’s my reading as far as Fortis goes.

Apollo honestly not too keen at the present levels.