Look at engineering, cement space: Nilesh Shah

Nilesh Shah, MD & CEO at Envision Capital told CNBC-TV18, "On declines, you probably want to look at things like engineering and cement. These are some of the sectors which hold promise. Every second day you talk about a new project being unveiled whether it is on the road side, on the railways side and these are some of the areas where you are basically seeing the government coming out with commissioning new projects.""Clearly there seems to be a lot of positive news in terms of actual numbers yet to play out over the next couple of years. So, I think for some reason if these companies have a disappointing earnings season, I would use that as an opportunity to look at and do some bottomfishing in these kind of sectors," he said.