Dabur India, Ranbaxy Labs top picks: IIFL

Manoj Murlidharan Vayalar, Associate Vice President-Derivatives, IIFL is of the view that one can bet on Dabur India, Ranbaxy Laboratories.

Murlidharan told CNBC-TV18, “Till the time the GAAR announcement came in, if you remember FIIs tried to manage to buy somewhere close to Rs 800-1,000 crore odd in cash but after that came in almost Rs 900 crore were sold in cash. So that was really the crucial point when the Nifty started sinking in and needless to say the surprise was the weakening rupee."
He further added, "So what we are saying is this money which had come in, somewhere close to Rs 800-1,000 crore almost 21-23% has gone into defensives. So if I have to simply pick up defensives as I said Dabur was a top pick and then followed with Ranbaxy. Today we are seeing good accumulation happening in both of them. Though it is a trading call we are positive on L&T. We feel it is Rs 1175 what it is trading at and somewhere close to at least Rs 1200 should be a good trading bet on this.”