Buy Havells India, exit Eveready Ind: Mehta

Devang Mehta, Anand Rathi Financial Services  is of the view that exit Eveready Industries India and buy Havells India.

Mehta told CNBC-TV18, “Eveready Industries has been a rank underperformer if you compare it with its peers or if you compare it generally to the broader market over the last two three years. I think the company was into losses in the past two three quarters. Only the last quarter company has turned a little bit profitable but still we feel that the business that the company is into a lot of dependency is on zinc prices." He further added, "I think the stock is in momentum since the last one or two days but I think this is a good opportunity for him to get out of this stock and come into a fundamentally sound stock, something like Havells which is not exactly into the same business but is into fast moving electrical goods. The brands of the company Havells India are all doing extremely well and it’s a company which has a niche advantage in this space. So, I think it would be prudent that he gets out of Eveready as the market is already rallying and I think one should get out of the stock and buy something like Havells."