The market corrected recently from its record high but the actual correction is only around 3 percent compared to the rally of more than 22 percent since the beginning of the calendar year 2017.
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Stocks and Sectors
In capital goods, he said he will stick to quality stocks. It is the right time to buy Larsen & Toubro as he expects earnings recovery from next year onwards.
Even L&T has strong topline and orderbook position but the research house closely looks at its cash flow and margin, he said.
But he prefers banking sector as provisions may not be high (like in the past) going forward. ICICI Bankand SBI are preferred bets in the space.
On Infosys, Bhatia will continue with outperform rating as valuations are compelling after recent correction due to Vishal Sikka's sudden exit.
He said there was no lack of trust in Infosys management and company. Everyone is happy with the respected co-founder Nandan Nilekani who returned to the board, he added.
The market corrected recently from its record high but the actual correction is only around 3 percent compared to the rally of more than 22 percent since the beginning of the calendar year 2017.
Stocks and Sectors
On Infosys, Bhatia will continue with outperform rating as valuations are compelling after recent correction due to Vishal Sikka's sudden exit.
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