Amol Rao of Anand Rathi is of the view that one may prefer Bharat Heavy Electricals with medium term view.
Amol Rao of Anand Rathi told CNBC-TV18, " Bharat Heavy Electricals ' (BHEL) Margins will remain weak and the financial performance will obviously remain weak because this is a long tail sector. So I think today the stock is going to show jitters because this is an extremely weak performance and an extremely slow start to the year. However, I think over the medium term the stock would perform in line with markets because risk appetite especially in infrastructure is returning. So given a probably interest rate correction over the next two-three years and a thrust in infrastructure creation, I think stock could see some interest. So the stock would perform over the medium term but that is still some time away. Definitely today the stock is going to open weak."
He further added, "Our fair price given the current scenario just on an earnings basis is around Rs 206 which is not the correct way to look at the stock because this is a long tail sector. What we would recommend investors to do is look at three-four year horizon where the stock would definitely be very attractive at Rs 200 and below."
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