PN Vijay, portfolio manager, pnvijay.com, joins CNBC-TV18 to make his value picks for the day that are nultibaggers. He picks Chennai-based Redington India and infrastructure-ancillary player, Elecon Enginnering.
PN Vijay, portfolio manager, pnvijay.com, joins CNBC-TV18 to make his value picks for the day that are nultibaggers.
He picks Chennai-based Redington and infrastructure-ancillary player, Elecon Engineering due to their strong business fundamentals and growth prospects going forward.
The company is a Chennai-based electronics distributor. Primarily, they are wholesale distributors for Blackberry, the popular email-RIM technology, whose market share is expanding after Blackberry sorted out the security issues with the Indian government.
Redington recently added the iPad and Dell which are also gaining popularity among the Indian masses.
Secondly, Huawei, the Chinese manufacturing giant in the telecom space, which has a huge stranglehold in the android market in Asia, has appointed Redington to supply the technology to smartphone users. Android is a Google technology which is gaining ground compared to Nokia's proprietary technology and Apple's iTechnology. So with the growth of android use in India, Redington will get more of distribution revenue and more importantly, servicing revenue.
Moreover, Redington is a debt-free company, and there are no real concerns in the sense that it