Exit BHEL, prefer L&T: Gaurang Shah

Gaurang Shah of Geojit BNP Paribas Financial Services told CNBC-TV18, "It is obvious to take an exit from Bharat Heavy Electricals (BHEL). For the last three or four quarters we have maintained a sell or a reduce stance on the stock and this is the least preferred company in the capital goods engineering space given the kind of performance.""The way the deterioration has happened, the speed of it, it is absolutely different story altogether about what order book you have but the more important thing is how well you are capable to execute that order book because that finally will translated into topline and profitability and creating value for shareholders, which I am afraid looks extremely absent or missing from the current number which the company has delivered. So my advice is to sell BHEL at current level and switch on to Larsen and Toubro (L&T). As a disclosure we have a positive coverage on L&T," he added.