Positive on Bharat Forge, Motherson Sumi; Vodafone Idea may get re-rated upwards post management commentary, says Prakash Diwan

Existing investors in Info Edge India should stay put but buying fresh at these levels makes the midcap IT stock slightly difficult from a valuation perspective, said market expert Prakash Diwan on Monday.

“Info Edge India has run up but it could still have much more as the date of the announcement come, the contours get developed I think it will continue to get that leg up,” Diwan told CNBC-TV18.

On the auto sector, he said, “The opportunity to buy into Bharat Forge and Motherson Sumi on dips will still be very loud and clear because of the kind of road ahead. But the mission critical components which both these stocks are supplying these days and adding newer clients is very positive for the stock in the long run.”

Speaking about the Vodafone Idea, Diwan said, “Lot of expectations were built up and the disappointment is far lesser than what was anticipated. Once the conference call happens and the management commentary especially in terms of the fundraise is veritable enough, I think the stock will definitely get re-rated upwards. Right now it is more of relief in the numbers that come through.”