Neeraj Deewan, Quantum Securities told CNBC-TV18, “There is some buying in Hindustan Unilever (HUL) which is happening because of this flight to safety. However I will not recommend people to go for FMCG stocks because they are not cheap.”
“Definitely one is stock specific, one might get some opportunity here and there where the valuations are still attractive but as a pack whether it is HUL or whether it is Godrej Consumer or others, I think they are very expensive. However, ITC I will put in different basket. We have buy rating, we have a coverage on a stock Godfrey Phillips is valuationwise attractive. So, may be certain pockets will be there where valuation is there but generalised if you see FMCG I think valuations are very rich right now,” he said.
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