Prefer Voltas, sell Crompton Greaves: Gautam Chhaochharia

Gautam Chhaochharia, Head of India Research at UBS Securities told CNBC-TV18, "We still have a sell on Crompton Greaves. Why we like Voltas in terms of playing in this market momentum rally is there are very few stocks in the capital goods industrial space which have a mix of both quality business, strong balance sheet and more importantly supportive valuations. So there are quality companies which have the first two, but are not necessarily cheap or attractively valued. Voltas ticked all the right boxes for us. Obviously the order flow visibility which came in over last couple of weeks kind of acted as a catalyst."

"Even at these levels we do like Voltas. It is one of the safer ways to play any potential recovery in the investment cycle. So Voltas, possibly even Blue Star, a slightly more illiquid name Carborundum Universal - these are the names we have been recommending from the midcap basket in industrial space rather than chasing more expensive names or chasing names which have balance sheet issues," he added.