Optimistic on Transformers and Rectifiers: Mayuresh Joshi

Mayuresh Joshi of Angel Broking told CNBC-TV18, "The transformers space is something that I will continue to be very optimistic about. Great set of numbers by Transformers and Rectifiers but the largest space and the largest story looks very encouraging at this point of time with expected burgeoning of order books expected to come through over the next few quarters, the margins will see significant amount of improvement." "If that happens, I think the cash flows and the capital ratios will improve significantly over the next two to three years. So, as a space, Transformers and Rectifiers along with other companies within the space is something that I will remain optimistic about," he said. "However, the other companies whether that be Navin Fluorine, whether that be to a certain extent even Rallis India - so to that extent I think that the stocks have done well but transformers as a space or as an industry should do well over the next two to three years."