Wait and watch for ADAG stocks: Sajiv Dhawan

In a chat with ET Now, Sajiv Dhawan, MD, JV Capital Services, shares his views on ADAG stocks.

How do you analyse the takeaways from the ADAG AGM and whether or not your thoughts about some of the ADAG stocks, the likes of Reliance Capital or Reliance Communications would have change now and if you would take a relook at these stocks?

Not really, the damage is too much for most of the shareholders, I have seen shareholders been holding to these stocks for quite sometime hoping against hope that the share price will bounce back. Stocks like Reliance Infra really been battered. RComm relatively after its sharp crash over the last one year is not falling as much, the shareholders with these sort of positive news flows coming out but let us see what actually happens, will have to be a complete change in the fundamentals of the company, will have to be excellent results and more importantly investors who have been battered, traders who have lost a lot of money in the stocks will have to find some new confidence, that is not to say you cannot see a 5% to 10% sort of rally in these stocks. There are high levels from time to time and they do give very sharp movements but will they double and go up to anyway near the sort of levels they were may be a year ago is highly unlikely.