Wait and watch for infra stocks: Saurabh Mukherjea, Ambit Capital

Saurabh Mukherjea, Head of Equities, Ambit Capital, in a chat with ET Now, gives his views on aviation stocks

What are your views on infra stocks like GVK, GMR, etc?

There are stocks out there which have been beaten down unjust, harshly and where there is a significant upside. Sobha Developers or Oberoi Realty or say Gateway District parks, logistics firms high quality real estate names have been pounded down with everybody else but who are better plays than their peers because their balance sheets are strong and their cash flows are strong. A GVK or GMR or the broader infra pack the balance sheet challenges are so profound that even for them to benefit for the recovery they will have to come to the market for fairly meaningful issuances and I would rather participate in that rather than buying now.