L&T can test Rs 1840-1850, says Baliga

Baliga told CNBC-TV18, "I can only say that speculators are quite active and as far as United Spirits is concerned, I think it’s fully priced at this juncture. I was expecting levels of Rs 2,000 post the deal and it has crossed that, so I do not see much of an upside from here."

He further added, "We have been looking at some of the infrastructure space because the way I see the markets moving over the next two-three months would be led by infrastructure as well as capital goods. In infrastructure we are still recommending GMR Infra inspite of the issues they have had, I think it’s already there in the price."

"The one we are recommending is GVK Power and among the largecaps L&T and BHEL where I still see a decent upside. We see levels of about Rs 1,840-1,850 in Larsen and Toubro and BHEL should at least go to levels of about Rs 270-280."