Add United Spirits to portfolio: Prakash Diwan

Prakash Diwan of prakashdiwan.in told CNBC-TV18, "It is a classic example where the expectations are way ahead of the reality or the improvement that you expect and the way everybody got on to that bandwagon you start believing that the turnaround has got to be very imminent and it is going to reflect in the P&L rather than wait for the balance sheet to improve. So, it is a classic example of midcaps getting fancy too far and this could happen to any good company. But the good part about fundamentals is that these stocks also bounce back with that same alacrity.""To be honest, I would really not be very perturbed at the fall because it is a systemic issue, it is a failure of the market to kind of hold on to such levels but it is going to be a very stock specific market. United Spirits it is a good value level to kind of get into and average out. I really wont exit and escape out of the stock but maybe add on to the portfolio itself," he said."Bajaj Finance is a classic story which is so successful, 0.5 percent is nothing for a day like this in an non-banking financial company (NBFC) space where the banks are getting hammered and if you have this logic that there is enough profit here then people would exit, nobody is exiting. Maruti Suzuki at current level- 4.5 - 5 percent down just because of Yen and the devaluation is a knee jerk reaction to this - in fact it will taper off gradually.""So, these are companies that you have to buy into and it is irresistible at times. The difference is as I said the noise is so much that you always want to wait for another day and that never happens. So, you will have to allocate capital, otherwise you will fall more by buying the wrong things."