Avoid VIP Industries, prefer Titan Company: Devang Mehta

Devang Mehta of Anand Rathi Financial Services told CNBC-TV18, "Lot of consumption names had reasoned too far much ahead of expectations and some of them have started to show disappointing numbers. VIP Industries is one of them. We would feel that something like Titan Company is very well deserved, in fact in a portfolio and seeing the numbers that the company posted the jewelry segment is again doing extremely well. We feel that if the consumption stays where it is and if the consumption in fact rises due to rise in gross domestic product (GDP) growth, talking about the capex, consumption is also going to be a big beneficiary."

"Something like Titan Company or Emami or something in the wellness space like Zydus Wellness and Bajaj Corp would be infact still preferred picks though a little expensively valued than what we used to talk earlier. VIP Industries would be a clear avoid," he added.