Buy Larsen & Toubro, ICICI Bank on dips: Neeraj Deewan

Neeraj Deewan of Quantum Securities told CNBC-TV18, "Larsen & Toubro (L&T) has been making new lows in the last 2-3 days. However if you see from the top, the stock has corrected almost 40 percent. We are looking at some improvement happening somewhere down the line. I think L&T will definitely contribute in the development which is going to happen. The kind of road orders and the kind of orders which have started coming now also adds to the kitty as far as domestic orders are concerned.""There is definitely concern because they have a large order book which is depending on oil rich countries. There crude prices are coming down and they do have some negative impact in the short term. However with orders coming in from India they will get better margins in orders from India. So, there can be couple of quarters of sub average performance or average performance but in the longer term L&T is a buy on dips," he said."As far as ICICI Bank is concerned, I think the private sector banks are definitely in a better place right now as compared to PSU banks. So, ICICI Bank after this kind of fall definitely makes a case to buy on dips."