Prefer L&T, BHEL to Crompton Greaves: Joshi

Prefer L&T, BHEL to Crompton Greaves, says Sharmila Joshi, Head of Equities, Fairwealth Securities.

Joshi told CNBC-TV18, "Crompton Greaves numbers were disastrous because the kind of pressures that you saw, where the topline was okay but really the pressures from commodities etc coming and giving you a profit, which was much lower than what market had anticipated and also I think the sale of shares that you saw from the promoter adding to the woes of the stock price further this morning."

She further added, "All in all not very good news for Crompton Greaves at all, so I would really say why you would want to enter this stock? I think perhaps Rs 180-185 would be a good level, but having said that I think it might be a better idea to enter L&T or BHEL which are also available at fairly decent valuations, especially when you have a long term horizon in mind. So I would say buy either L&T or BHEL. If you have to buy Crompton Greaves, wait for it to come to about Rs 185."