Wait and watch for Suzlon: Mehraboon Irani

ET Now spoke to Mehraboon Irani, Principal & Head-Pvt Client Group Business, Nirmal Bang Securities, about Suzlon.

Are you convinced about the fundamental news on Suzlon?

I have been very negative, very vocal about being negative for over four years as far as Suzlon goes and I feel it is at prices, which are crazy and people are saying every correction, you should buy into a company and I have never been a believer of that theory that you do not buy a stock just because the stock has come down. You start looking at why the stock has come down, there could be a fundamental reason. But over the last 10-15 days, in fact on your very channel recently I mentioned that I am no longer negative on Suzlon and I personally feel something major could be happening at the particular company. So at the present level, no more negative. Whether I am positive? Answer is no because there is an opportunity possibly somewhere from a trading angle but from an investment angle, I do not have an insight right now to say that ‘okay, go and buy for the longer term’ but from a trading angle, possibly some more upside definitely on the cards.