Punj Lloyd can go down further: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about Punj Lloyd.

What do you think of Punj Lloyd?

Punj Lloyd is certainly a candidate for going down further. Punj Lloyd is in the wrong sector. This sector has been a serious underperformer for the last year-and-a-half and Punj Lloyd has been hit as much as the IVRCL, Nagarjuna and Hindustan Construction. All these stocks are in pretty deep downtrends. They were in downtrends even when we were in a clear bull market. So these stocks would be under pressure if we go into a bear phase.