Look at capital goods sector: Nirmal Jain

Nirmal Jain - chairman at IIFL told CNBC-TV18, "One should look at consumer discretionary and also sectors like automobile and capital goods. Capital goods will revive very soon. It looks like most of the capital goods companies are now saying that they are getting orders. Their capacity uitlisation is now going up and they have a very high operating leverage. Once your volumes go up little bit margins can improve significantly. So may be next couple of quarters one should look at capital goods sector very carefully."

At 12:43 hrs Bharat Heavy Electricals was quoting at Rs 259.20, down Rs 0.20, or 0.08 percent. It has touched an intraday high of Rs 262.35 and an intraday low of Rs 258.15.