ITC, HUL safe stocks in FMCG space: Joshi

Excerpts from Your Stocks on CNBC-TV18 Watch the full show » ALSO READ See previous views by Sharmila Joshi See what other Experts & Brokerages are saying about ITC See messages about ITC ITC BSE | NSE 10/02/12 Are Mutual Funds betting on ITC?

ITC , Hindustan Unilever (HUL) are safe stocks in FMCG space, says Sharmila Joshi , Investment Advisor.

Joshi told CNBC-TV18, "The kind of cigarette sale numbers that we have seen have definitely seems to indicate that ITC is doing well. The only danger is that come close to budget time there is always a lot of concern for this stock because you never know what you are going to hear then. I think barring the last budget there has never been a budget that has really commented on the duties for cigarettes as a whole."

She further added, "It's a safe stock. If you buy it at Rs 260, you are likely to not see it fall off a cliff in a bad market but it's not a very exciting stock also to be in because it's not going to double from here or anything in the next - unless you are willing to wait with it for the next eight-ten years - that's the choice of the investor. But from that point of view in the fast moving consumer goods (FMCG) space possibly Hindustan Unilever and ITC are the safer stocks to have."   

Disclosure: I have no personal holding in the above stock/sector but may have recommended them to clients.