Prefer L&T, Cummins, Bajaj Electricals: Saurabh Mukherjea

Saurabh Mukherjea, CEO-institutional equities of Ambit Capital told CNBC-TV18, "Larsen and Toubro (L&T) is a straight forward play on an infrastructure and a capex recovery over the course of the next couple of years. It has done reasonably well over the last six-seven months but I think there is still plenty of room for L&T to do well over the next year or a couple of years.”

“Cummins India is the Indian subsidiary of the US multinationals, good export franchise, state of the art technology and still trading at attractive valuations,” he added.

“Bajaj Electricals is more of a turnaround play. Over the last couple of years, the profit after tax (PAT) was in the red for big part of the couple of years. But my reckoning is Bajaj Electricals is mounting a turnaround and given that the electrical franchise is in very good shape, it is worth having a look at it. That is the point of view we approach investing with high quality fundamental plays, well-run companies and you shouldn’t have to worry about global cues in light of the quality in your portfolio.”