L&T a bellwether stock, focus on financials: Basant Maheshwari

Basant Maheshwari of Basant Maheshwari Wealth told CNBC-TV18, "Larsen & Toubro I think is a bellwether stock. We don’t own it but for somebody who is looking at 12-15 percent consolidated return over the next 2-4 years and wants to be safer with the large caps, I think L&T presents a good opportunity. It is also a good way to play India. However you have to understand that L&T has been a leader between 2003-2008, so assuming the stock to again go back to its own magical days would be too much. I think it is good for 15-16 percent kind of a growth and nothing beyond that."

"However the real excitement is in the financials, it is in the consumer space, it is in the underlying theme of organised going in favour of the unorganised. So, I think these are the three big themes that are happening right now. Investors looking for long term capital appreciation should focus in these kind of players," he added.