Buy Bajaj Electricals , says Kamlesh Kotak of Asian Market Securities.
Kotak told CNBC-TV18, "Bajaj Electricals has corrected 30% over last 1 month due to bad results of Q1. Its ENP business suffered heavy losses which we believe is an aberration and it will normalize by the end of the year."
He further added, "The core consumer appliances, fans and lighting business is doing well and is expected to grow 20% CAGR going forward. Our base case analysis suggests that the company will post EPS of Rs18 over FY13 and valuation would be Rs 253. However, for intraday we recommend buy with a target of Rs 190 on the stock."
