Rahul Arora, CEO at Nirmal Bang Institutional Equities is positive on Havells India, Bajaj Electricals and V-Guard Industries.
Rahul Arora, CEO at Nirmal Bang Institutional Equities told CNBC-TV18, "We are positive on Havells India , Bajaj Electricals as well as V-Guard Industries . Couple of years back we were actually negative on the company and we had initiated a sell on Havells with three issues. One, we thought that they were overdrawing their short-term funds and the other was Sylvania and we thought that the acquisition wasn't turning out to be as fruitful and the third was domestic issues."
"The company has clean up its balance sheet over the last two years. Sylvania is trying to do reasonable well over the last one-two quarters and we are taking a call on domestic Capex recovery. Our own economist expects 6 percent gross domestic product (GDP) growth in FY16. So the valuations are not stretched for all of these three compared to some of the other peers. If you want to extend it into the sort of electrical appliances and capital goods space then you are still getting these guys at a reasonable valuation compared to some of their peers," he added.
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