Prefer L&T, IDFC, Bajaj Auto: Nooresh Merani

Nooresh Merani of Analyse India told CNBC-TV18, "I would suggest new investor to go into largecaps like Larsen and Toubro (L&T) or IDFC or some of the auto names like Bajaj Auto and Hero Motocorp. The investor can split the money in these four stocks or take any one of them and keep a longer term view."

At 14:54 hrs Larsen and Toubro was quoting at Rs 1,563.90, down Rs 50.60, or 3.13 percent.

The share touched its 52-week high Rs 1,892.95 and 52-week low Rs 1,394 on 04 March, 2015 and 12 May, 2014, respectively.