Hold Larsen & Toubro, avoid BHEL, says Purushottam

Professional investor Sangeeta Purushottam advised holding Larsen & Toubro in portfolio, but avoid buying BHEL, she added.
 
Purushottam told CNBC-TV18, “I would avoid BHEL primarily because of the preponderance of the power sector. The role of the power sector as a significant contributor to growth has considerably diminished.”
 
“L&T is a stock that investors could just hold in their portfolios for any signs of an upturn in the capex cycle over the next year or two. I wouldn’t really rush to buy anything in the capital-goods sector because the timing of the upturn in the investment cycle is still uncertain,” Purushottam added.