Avoid Jubilant Foodworks, Titan, Bata: Gaurav Doshi

Avoid Jubilant Foodworks, Titan and Bata, says Gaurav Doshi, Morgan Stanley Pvt Wealth Mgmt India.

Doshi told CNBC-TV18, "I think valuations do not support buy argument at all in Jubilant Foodworks, Titan and Bata. We do not think that this sort of outperformance is sustainable. It is just that the sheer nervousness in the market is making money heard into defensives and consumer names."
He further added, "I do believe that these are great stories. I would like to add at the right price and that price is nowhere close to where they are right now. Definitely avoid all these three stocks right now."