T.S.Harihar of Karvy Stock Broking advises to avoid real estate companies.
Harihar told CNBC-TV18, "The problem with real estate per say and I don’t distinguish much between the large and the small ones at this point of time, it is the fact that funds are not available. For any real estate company be it a Unitech or a DLF or a smaller company like Puravankara. The key issue is that funds are available for the development projects and with Unitech putting off its Singapore REIT issue, it raises a big question mark over the fund raising abilities of the real estate company, so that I think is going to weigh very heavily on real estate companies. Possibly as a sector I would avoid it at this point of time".
Source: Moneycontrol.com
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