Buy Ashok Leyland, Britannia, Bata: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Last year, the game was very easy because you had a 20 percent decline in the market and all of these midcaps got beaten up. So, it was very easy to get midcaps which became multi-baggers. So, you did not have to try very hard. If you had a good balance sheet, decent business model, things really flew off the handle. Plus, you have a good monsoon, so stocks like Escorts, etc. did extremely well.""This year, it is not very easy, you are sitting at new highs and the problem is that for the last three months, the market is narrowing. It is narrowing all over the world which means that probably large money is sitting on its hands and it will move sooner or later, probably in November post the US election. So, that sort of dislocation is likely to happen. Maybe, you will get to 8,000-8,200. So, those will be levels where you will get much better bargains rather than today or tomorrow. So, that is something that people should keep in mind that a narrowing market will finally expand.""Ashok Leyland has gone through a bad time. It now looks like it had a good month end. It is probably bottoming out. So, that is a buy with a stoploss around Rs 80. And a medium-term target of about Rs 120. Similarly, Britannia Industries which had a fairly strong run, last two or three months has been sideways. Now fast-moving consumer goods (FMCG) seems to be bottoming out. So, that is a buy with a stoploss of Rs 3,200, look for Rs 3,750.""Bata India is a beaten up, forgotten stock. Maybe things are not good with the company, but it is down from Rs 750 to around Rs 450-500. So, this is a time to get into it. Whenever good results come in, you could easily make a lot of money. So, Bata is a buy with a stoploss of Rs 450 and look for target of Rs 620," he added.