Stay invested in HDIL and buy at lower levels: Deven Choksey

Deven Choksey, MD, KR Choksey Securities, in a chat with ET Now talks about HDIL.

You have a contrarian call on HDIL. Are you saying even at this point HDIL should be bought, accumulated?

Yes, more importantly because the segment in which HDIL is operating is having a good potential in market even if they are having about 88% of their total sellable area of 220 million square feet. So from that perspective, they definitely would hold a good chance to produce better numbers.

At the same time, the TDR prices where they are enjoying maximum amount of advantage of having a land bank are expected to move a little bit. So on that again, they will make some good amount of money. So we will keep a target price of about 380. Around that level if one wants to exit, one should exit in the year ahead. Otherwise, one should stay invested and maybe buy at lower levels.

In terms of the time span which it should be held onto, ultimately money is being made. So why hold onto it for a significantly long period of time?

Important thing is that my viewpoint is for about one year and above. If one wants to trade for short term, then one should not ask anybody, book profit and take it home.