Moneycontrol
May 19, 2017 08:08 AM IST | Source: CNBC-TV18

Prefer Havells, Bayer Crop, ITC, Bharti Infratel: Neelkanth Mishra

We prefer Cholamandalam Investment, Havells, Bayer CropScience, Godrej Consumer, ITC, Bharti Infratel and Jubilant Foodworks and are underweight on Nestle, Colgate and TVS Motor, says Neelkanth Mishra of Credit Suisse.

 
 
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Neelkanth Mishra of Credit Suisse said, "The economy-market relationship is tenuous at best, in our view. Not only are market returns more P/E driven, the market and economy also have different structures. Even as revenue growth has slowed in the recent years, P/E multiples have risen, implying a broad-based growth faster than GDP which is unlikely."

He further added, "We believe sharp penetration improvement would be selective. We prefer Cholamandalam Investment, Havells, Bayer CropScience, Godrej Consumer, ITC, Bharti Infratel and Jubilant Foodworks and are underweight on Nestle, Colgate and TVS Motor."
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