Prefer L&T, Siemens, Greaves Cotton: Prakash Diwan

Prakash Diwan of Altamount Capital Management told CNBC-TV18, "From the fundamentals we like companies like Elecon Engineering, Cummins and Greaves Cotton which would add to the entire value chain. On the top of course it is Larsen & Toubro (L&T), Siemens, Alstom and ABB but then it goes all the way down right up to companies making smaller components."

"Infrastructure companies which are more into construction, the EPC players likes of MBL, even a smaller player like IRB Infra which is now focusing on construction and less on trolling, these are changes which clearly players are kind of anticipating to be more favourable. So focus on construction, engineering and infrastructure. Anybody who is into steel fabrication, casting, forging, that is going to be a way to go about doing it, building materials many few companies which are doing well in that right now but there is too much to choose," he said.