Harendra Kumar of Elara Capital is also bullish on Brigade Enterprises, Heidelberg Cement and Prism cement.
The market is prone to trade between 7800-8200 due to lack of substantial triggers, tepid earnings and expectation of weak monsoons, says Harendra Kumar of Elara Capital. According to him there is nothing exciting in the market right now and therefore, there are not too many stocks to buy given the expensive valuations.
In an interview to CNBC-TV18, Kumar says both Maruti Suzuki and ICICI Bank, to a certain extent, will arrest the fall of decline seen in early numbers. “Both of them should be posting good numbers in line with analyst expectations, more so for Maruti and relatively lower for ICICI Bank in non-performing assets (NPAs) may be you will have some announcements but otherwise in terms of numbers both should be reasonably in terms of analyst expectations,” he adds.
He recommends buying IT stocks on dips especially Infosys which is unlikely to see any further price cuts.
Among other stocks, Kumar likes power utility companies like NTPC which will benefit from government’s solar push, Power Grid and Coal India. He is also bullish on Prestige Estates, Brigade Enterprises, Heidelberg Cement and Prism Cement.
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