Stay away from BHEL, says Hemindra Hazari

Hemindra Hazari, Independent Market Expert told CNBC-TV18, "I would stay away from BHEL because their 57 thermal plants have shut down because there is no demand. We are regarded as a power deficit country and now we are told that even the power sector there is hardly enough demand which means like companies for BHEL where the future order will come from."

"If India is today shutting down so many power plants where are the new orders to come from, from power equipment. As I said, the situation is going to get much worse than what it is. So, we have to be prepared that FY16 could be worse than FY15," he said.