Accumulate Tata Global, says Ajay Srivastava

One can accumulate Tata Global Beverage, says Ajay Srivastava, CEO, Dimensions Consulting

Srivastava told CNBC-TV18, "What we are doing right now is pure trading calls and that is the reason we are saying it is  not an investment call and these have been in the multiple stocks. A few accumulations are happening in ICICI Bank at  this point of time. We are accumulating in Tata Global at this point of time at Rs 127."

He further added, "The question remains back to the market is that if there is selling who is the buyer in the market?  Fundamentally, we have got a zone of comfort. The only discomfort is structurally the market has only sellers and no  buyers, the mutual funds are gone and dead, the insurance companies in India are dead. So the regulatory framework  in India tells us that there is no counter buyer to the stock even if value emerges. That is why we are saying we can see  value in lot of these stocks and we are buying a few of these stocks, but what we are not seeing is structurally the  market can sustain a serious selling, otherwise one can name at least 10 stocks which are in the zone of comfort."

"We have a trading position in IVRCL which is becoming kind of a low value stock at this point of time and gone plus  on that. But fundamental fear why we are not seeing investment is that the market does not have big buyers. Insurance  and mutual fund industry is dead in India, thanks to regulatory scenario. So the counter buyers are finished. Who is left  to buy, if Indian public is not going to buy through them? Otherwise I can tell you that there are at least 10 candidates  who are in the zone of comfort to say, yes you go and buy, but today we are saying, take a trading call, do not take  investment calls."