Real estate space looks weak: Vijay

Portfolio Manager, PN Vijay is of the view that real estate space is looking weak.

Vijay told CNBC-TV18, "Among the three rate sensitive sectors banking, auto and real estate; real estate definitely looks the weakest because here we have a huge oversupply phenomenon at least in the metropolitan cities in India. The play interestingly should be in the midcap real estate space though one should admit that these are the riskiest stocks to pick. My own favorite is HDIL, it is a unique story. All over the world there is no slum development project as big as the one that is going on in Mumbai and HDIL has a unique business model. So that is a very good play in the midcap real estate space. Brigade Enterprises with their service apartment concept and Kolte-Patil with their Pune strings, they are all interesting stories that can be bought but the sector as a whole I am not so sanguine."

Disclosure: It is safe to assume that analyst and his clients may have an interest in the above stocks or sectors.