Watch the interview of TS Harihar of HRBV Client Solutions with Latha Venkatesh & Sonia Shenoy on CNBC-TV18, in which he shared his readings and outlook on market and specific stocks.
Below is the verbatim transcript of TS Harihar's interview with CNBC-TV18
Larsen & Toubro
I am reiterating my call of Larsen & Toubro (L&T), a target of about Rs 2,000 and one quarter target at about Rs 2,400. What we believe is that in this leg that is going to start where we are going to go beyond 9,000 probably closer to 9,500 would be my estimate in one quarter. It could be driven largely by the private banks and the capital good space. It is here where with its exposure to cap goods as well as defence, L&T could be placed in extremely sweet spot. So L&T is the first stock that we are extremely positive on.
ICICI Bank
ICICI Bank never deserved the discount in valuation over Axis Bank. HDFC Bank historically had its discount. So that discount should first get narrowed, probably about Rs 380-390 immediately and about Rs 430-440 in one quarter is what we are looking at ICICI Bank.
There are some concerns that yesterday Moody’s did raise some concerns about private sector banks but I think the way the stocks moved up, I don’t think the markets have taken it too seriously. So I think private sector banks and public sector banks will see some short covering at best. I don’t see anything beyond that but I think the real buying interest could come more into the private sector banks.
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