Sell GMR Infrastructure, says Anil Manghnani, Modern Shares & Stock Brokers.
Manghnani told CNBC-TV18, "If you think the market is going to fall, the first should be the weaker sector not the stronger sector. So I think you already saw especially along with infrastructure, you can club capital goods, so you saw the way Bharat Heavy Electricals Ltd (BHEL) lost some of its gains on Thursday even Larsen and Toubro (L&T) fell off quite sharply on Friday."
He further added, "The capital goods as a space is weak and within that I think infrastructure also ? if you look at GMR for example has given a sell call today, it rallied in the first move upto Rs 56 and again in this move, it hasn?t done anything, it struggles around Rs 40-42 mark. So I think in that range, it is a short probably headed back to Rs 35-36 levels."
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