Hold Novartis India, Tata Steel, HLL for long term

Mohoni told CNBC-TV18, "Novartis India, Tata Steel, HLL are under performers in the market. Novartis along with most of the pharma stocks have slipping and sometimes one do get the pharma stocks, coming out as defensive buy’s when the market declines and there may be some chance that Novartis does okay in that sort of situation."

He further added, "Tata Steel has been weak both before and after the Corus news, so I don’t think the news has helped the stock much. It has been an under performer, now and then it does rally but it has not given the kind percentage returns one get out of so many other stocks including the Index and ditto with HLL. All three are good companies but the stocks are not performing well right now. If the investor is in it for a long-term and has got a good cushion of profit in them then one can hold on but not expect too much in the short-term."