Anish Damania, CEO of IDFC Securities told CNBC-TV18, "In case of Voltas, once again what caused a fall was the weakness in its consumer products division. We have seen that probably the worst is behind us and now we will start seeing that grow because as you go forward the 7th pay commission, the urban income which is rising is all a proxy to that growth. The stock has also corrected from highs of about Rs 330-360 to about Rs 260. So, there is an adequate correction also which has happened to take into account the weakness which we have seen over last two quarters.""In Engineers India (EIL), over last three years there has been dearth of capex plans from the oil marketing companies (OMC). Clearly from the fact that the oil was at a significantly higher price and that caused a lot of issues for this OMCs. Now, what we are seeing is that the marketing margins are stabilised and your refining margin cycle is strong. So, the cash flow of the OMCs is extremely on the higher side. With this all the pending projects and all the pending things are expected to come to the floor, EIL is probably the biggest proxy of the capex spend of these companies, it has also corrected significantly. So, we have recently upgraded to an outperform in anticipation of a lot of orders coming through from the OMCs," he added.
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