L&T could be top pick in capital goods space: Nirmal Bang

According to Mehraboon Irani of Nirmal Bang Securities, L&T could be the top pick if one has to select something purely on a fundamental basis.
 
Irani told CNBC-TV18, “Looking at what happened as far as L&T goes in the last quarter, there are reasons to keep fingers crossed and be optimistic as to what is going to happen ultimately as far as the company goes and the order book goes.”
 
“According to me, if the economy kicks starts, L&T possibly could go up first of the market. So at the present level, we need to accept the fact that the stock is much higher than what it was some months ago. But there is value for the longer term. So I think in this entire pack, if one has to select something purely on a fundamental basis and expecting things to improve as far as the economy goes, I think L&T could be the top pick. The dark horse in this pack could be possibly Crompton, if one can classify this company in the same pack as L&T,” Irani added.