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Jul 17, 2017 04:58 PM IST | Source: CNBC-TV18

Buy Tata Global on dips; see 20% upside in United Spirits, bullish on NBCC: IIFL

Sanjiv Bhasin of IIFL suggests buying Tata Global on dips and sees 20 percent upside in United Spirits while he is bullish on NBCC and EIL.

Sanjiv Bhasin of IIFL told CNBC-TV18, "Some of our midcaps, some of our FMCG/beverage stocks have been on a tear and we have been very bullish on United Spirits and Tata Global Beverage. Tata Global, all the way from Rs 115 and United Spirits closer to that Rs 1,900 market. We still think there is a 20 percent upside in United Spirits. We think in the next one and a half years, you could have the stocks quoting closer to Rs 4,000."

"Tata Global again, on declines should be a very good entry point because we think that is consolidated. Once it gets some cross holdings, the return on equity will improve and we have seen Starbucks and the whole beverage chain do extremely well. We have a target of Rs 225 in the next one year."

"We also are very bullish on NBCC and Engineers India  given that their order flows and the hydrocarbon expansion will be a blessing in disguise for EIL. So we have an overweight on that. Also, some of the PSU banks, Canara Bank and Bank of Baroda on declines would be good portfolio stocks to be added against the Bank Nifty touching all-time highs," he added.

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