Buy infrastructure stocks on dip: Baliga

Baliga told CNBC-TV18, "In infrastructure space there could be some more pain, we should remember that in the last four months we have seen extremely good move in most of the infrastructure names, we have seen some 50-60% or slightly higher moves in some of them. So it is quite natural that they would correct and we were expecting that for a while."

He further added, "But one silver lining from the ratings, which we have got clearly is a message to the government that they need to kickstart the economy and one of the best ways to kickstart the economy is with the infrastructure space. With interest rates again expected to come down, we have already had a 50 bps cut and I think rest of the year we can expect at least another 50 bps possibly by September to December quarter. So looking at that, yes, I suppose infrastructure space should be bought into on dips."