homevideos Newsmarket NewsPositive on Tata Power, IndiGo; PVR is good shorting idea, says market expert Prakash Diwan
Positive on Tata Power, IndiGo; PVR is good shorting idea, says market expert Prakash Diwan
Market Expert Prakash Diwan on Monday said that the power sector is a promising space and he has a fairly overweight allocation to the sector. However, within the space, he prefers Tata Power.
Market Expert Prakash Diwan on Monday said that the power sector is a promising space and he has a fairly overweight allocation to the sector. However, within the space, he prefers Tata Power.
“Tata Power has a lot of vectors going for it. It is absolutely comfortable on the risk-reward thing. It has not delivered much in the last few years, but the last 12 months have been stellar. I think this trend would continue. You will probably have an InvIT coming, you will have solar assets getting monetized and of course distribution along with the production mix is just getting better and better,” he told CNBC-TV18.
PVR is a good shorting idea, Diwan said.
“I have never liked the fact PVR moved up all the way to Rs 1,500 zones from the low of Rs 700. There is nothing going for it except for sentiment and hope and that has been belied. There is no movie that is being produced, there are no releases that we are talking about. So, these are difficult businesses with fixed costs being so high. So I would stay away from them. In fact, PVR is a great short idea and it has been like that for a while now.”
He expects airlines to recover faster and is positive on Interglobe Aviation (IndiGo).
“As business starts limping back to normalcy and the vaccination process goes up, people will get slightly embolden to do things which they have not been able to do in the last 12 months. And with the softness in crude, it is just another tailwind that just comes in handy. So, I would look at some stage an Interglobe Aviation for sure. The kind of routes that they are expanding to is fairly promising. There is a lot of pent-up travel that is going to emerge, the new slots that they are acquiring. So, Interglobe Aviation makes the cut.”
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(Edited by : Ajay Vaishnav)
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