Prefer Bajaj Corp: Devang Mehta

Devang Mehta, Sr VP & Head-Eq Advisory at Anand Rathi Financial Services told CNBC-TV18, "We have been quite bullish on Bajaj Corp since around Rs 120-130 levels and currently we feel that the substantial market share that this company is gaining in its light hair oil category which is a premium hair oil, that infact is a great booster dose for it. Also the Nomarks acquisition that the company did, it was singularly called a single product company and now with another product in the kitty and even with the market share expansion going on for its skin care segment, this company is slated to very well. With good cash on hand, and zero debt company, we feel Bajaj Corp is again very defensive in such times and which also could give you alpha over other stocks with a lesser bit of risk."At 13:30 hrs Bajaj Corp was quoting at Rs 466.55, down Rs 16.10, or 3.34 percent. It has touched an intraday high of Rs 477.65 and an intraday low of Rs 453.