Buy L&T, Bajaj Auto, United Phosphorous: Dilip Bhat

Dilip Bhat of Prabhudas Lilladher told CNBC-TV18, "On a frontline company I would still go on with Larsen and Toubro (L&T). With the kind of orders or the kind of announcement which the government has made, L&T has the best balance sheet to capture some of these opportunities. Possibly our calculation is that they will still generate some amount of free cash and probably this quarterly results should be somewhat better than what they did in the fourth quarter. That is a stock which we will look at buying even at the current levels or maybe at a dip."

"In frontline stocks, we would still go for Infosys. Infosys is still a stock to bet on. I would look at something like Bajaj Auto on a lower side, which also would look pretty good to buy," he added. He further said, "In the midcap space it would be KSB Pumps or United Phosphorous, which appears to be good or Tata Chemicals which appears to be a lot more defensive from the current levels. So those would be the broad picks across the sectors based on our analysis that we recommend." Also Read: Govt should now hike urea price, cut subsidy: Tata Chem