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market | IST

Positive on Cipla, L&T and Zee Ent; book profit on ONGC: Centrum Broking’s Nischal Maheshwari

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Nischal Maheshwari of Centrum Broking spoke to CNBC-TV18 to talk about some stocks that have been the big gainers lately.

Nischal Maheshwari of Centrum Broking spoke to CNBC-TV18 to talk about some stocks that have been the big gainers lately.
On ONGC Maheshwari said, “We were positive on ONGC at around Rs 60, but at around Rs 95-98, I think it is good time to take away some profits from the stock."
"The upside in ONGC from the oil price increase is capped and beyond a point basically the subsidy also starts kicking in, so you will not be able to capture the full oil price increase."
He observed that it is a good time to take away some profits from ONGC. Maheshwari said it is not a long-term investment kind of a bet basically which one can take in one's portfolio.
On Cipla, he said, “We have been positive on Cipla for some time. We continue to believe there is more legs to it.”
On Zee Entertainment, Maheshwari said, “We like Zee Entertainment Enterprises in this space, I believe Zee is not gone anyway, that is a stock basically one can look in this space.”
On Larsen & Toubro (L&T), he said, “I would be adding L&T, around these prices also I continue to add L&T, we have been positive on the stock. The press release what it says is basically about the bullet train where they had been the largest contractors to get the maximum amount of orderbook. That is a significant win which they have had, so L&T is like a mirror to the economy and that is one of the best plays as far as the recovery is concerned.”
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