Sanjiv Bhasin of IIFL Securities is positive on these stocks

Sanjiv Bhasin, director of IIFL Securities, shared his views and outlook on markets with CNBC-TV18. He spoke about stocks like Tata Global Beverages, Bandhan Bank, Mindtree and Wipro.

“Tata Global Beverages has been an outlier. Tata Global has been one of the best-performing stocks. That has been one of our coverage stocks along with Tata Chemical and Rallis India and we think there is a lot of value in a lot of Tata Group stocks which is surely but slowly going to get unlocked in 2020,” said Bhasin.

On Bandhan Bank, Bhasin said, “Bandhan is a leader in the front and their new merger with Gruh Finance should now play out on the low-cost housing. This is going to be one stock to be bought on the decline or accumulate for outperformance in this year."

Bandhan Bank on Tuesday reported a net profit of Rs 731.03 crore in the third quarter of the financial year 2020, which is way lower than CNBC-TV18 poll prediction of Rs 783.7 crore.

Bhasin said, in the IT sector, their top picks are Mindtree and Wipro. Wipro on Tuesday reported a 2.17 percent year-on-year (YoY) drop in consolidated net profit at 2,455.9 crore for the third quarter ended December 2019.

In the infrastructure space, India Cements, ACC, Ambuja Cements, UltraTech Cement are among his top picks.

 

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