Prefer ITC over HUL, says Jagdish Malkani

Jagdish Malkani, Member- NSE/ BSE advice traders to prefer ITC over HUL.

Malkani told CNBC-TV18, “HUL in particular is extremely resilient. I am not a technical person to buy the stock, but clearly it is a bit worrisome, a lot depends on how the whole great monsoon pans out. So, I would be careful on that purely because of the rain issue, not because the company is doing extremely well.”
He further added, “Between the two my pick would be ITC because ITC genuinely even as a stock seems to be more resilient, more rain-proof as it were etc, so in the big league I would be looking at that. In general, I would be waiting; and otherwise the other very firm stock, which again technically etc., Godrej Consumers is the other one, which is continuous to basically- HDFC Bank of this pack, new highs etc., but otherwise, I would be tend to be careful. I think other sectors represent more value. FMCG has had just too much of a dream run and this monsoon is large, question mark over it, but on the other hand reducing input cost prices etc, bode well. So I would be neutral on this sector.”