Gautam Duggad, Head of Research-Institutional Equities, Motilal Oswal Financial Services shared his views and outlook on market as well as on few stocks.

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Duggad is overweight on BFSI and on Bharti Airtel in the model portfolio. “Bharti Airtel is part of our top10 India ideas as well,” he said in an interview with CNBC-TV18.

“State Bank of India (SBI) is the only bank within the public sector undertaking (PSU) space which we have liked,” he said. “Yesterday’s results does reinforce the confidence that at least now it should see some rerating,” he added.

He had zero position on ITC for two-three years now, he said.

According to him, there are no complaints with ITC, they are delivering their 10 percent earnings growth consistently, valuations are 13 times one year forward and incrementally their cash position in the balancesheet is quite strong. “We used to have ITC long back, maybe the downside is limited but for upside to materialise there has to be some tangible trigger to materialise, you cannot go just because the valuations are low, just valuations do not help the stock to perform,” he said.

“I believe that we have a better play available in Hindustan Unilever Ltd (HUL). It has worked very well for the last five years now, so we are continuing our overweight position on HUL. Plus rural is doing exceedingly well, so we have Dabur as well in our model portfolio which has given extremely strong results and aside of that we have Titan which has been forever part of the portfolio and then Tata Consumers,” he said.

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(Edited by : Ankit Gohel)

First Published:Nov 5, 2020 12:19 PM IST