Buy IndusInd Bank, says Mehraboon Irani

Mehraboon Irani of Nirmal Bang told CNBC-TV18, "IndusInd Bank is again back to Rs 800. It is the stock you buy. This is a stock which is going to be a Rs 1,000 stock in the next one year. Similarly, Dalmia Bharat, a stock which was just Rs 600 odd just a few days ago down by Rs 100, go and buy that stock; that is the top gainer today in the market. That is the way one should be looking at it. You need to know what you actually want to own. You have a price at which I buy and when that price comes, which is definitely possible in quite few stocks, because if there is some selling and no buying in the market, stocks could be abnormally see low levels also."

"On the whole, in the short-run I remain negative on the market. But there could be stocks which could be available at the right valuations, just go and buy irrespective of how much more the Nifty will fall. So, I would say pockets-wise I think the first half of this fiscal year is going to be a washout for Indian corporates. As far as the overall markets goes, I have stated that all those people who use the word consolidation are playing very diplomatic. Indian market never consolidates, they either go up or come down. We went from 5,200 to 9,100. Now we have a 9,100 as 8,000. Whether we go to 7,200, 7,600, 7,800, all people will sound more and more negative, at that time I personally feel, quite a few stocks will become attractive," he said.

"I personally like the cement stocks. Despite the first quarter, not going to be very good in terms of volumes, overall if you believe that ultimately one fine day the economy will rebound, cement stocks should do well. In that our best bet is Dalmia Bharat."