Dipen Shah positive on Voltas, VA Tech Wabag

Dipen Shah, Senior Vice President & Head - PCG Research at Kotak Securities told CNBC-TV18, "Within capital goods and infrastructure, we are very selective in the sense that we like companies which have got strong balance sheets and credible management. Apart from that some of the companies which are present in the export markets, like Voltas which has a high revenues coming from the Middle East market or maybe some other themes like water which we are very positive on, like VA Tech Wabag."

"Within the capital goods sector, we are selective positive on strong balance sheet and good management companies, like Cummins India would qualify for that. But apart from that stocks like VA Tech Wabag or Voltas are the companies on which we are positive on. We largely are not seeing any major improvement in the ground level scenario. So, it’s largely a cautious view on the capital goods and infra segment with some select buy calls as I mentioned," he added.