Prime's Jayakumar feels Atlas Copco, AP Paper undervalued

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Prime's Jayakumar feels Atlas Copco, AP Paper undervalued

The whole of last week has been a bonanza for the market. As gains continue to pour in, an optimistic N Jayakumar of Prime Securities says money flows will continue despite local and global events.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See what other experts are saying about markets See what FIIs are saying about the markets See what Udayan Mukherjee is saying about the markets

The whole of last week has been a bonanza for the market. As gains continue to pour in, an optimistic N Jayakumar of Prime Securities says money flows will continue despite local and global events. "We have seen multiple sectors helping the market come back to 5,800-5,900 levels. And now, a period of consolidation is clearly called upon," he says.

However, he does sees the market hitting new high going forward. "Nifty could breach 6,000 on the upside if crude cools," he says.

The big theme, according to him, will be the mid-cap space. "That space is witnessing a recovery. Scrips like Atlas Copco and AP Paper are showing undervaluation as of now," Jayakumar explains.

Standing on the cusp of the fourth (January to March) quarter earnings season, he suggests to not expect many positives for frontline companies. "This season needs to be looked at on stock-specific basis."

SELL if and when Nifty hits 5900-6000, advises Baliga

Being cautious on the banking and technology space, Jayakumar says he doesn't see much of an upside in Infosys from current levels.

Also read: Nifty is building a base, making higher bottoms: Prime Sec