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Complete Circle's Gurmeet Chadha: Like L&T, good opportunities in small, midcap auto stocks

There are some good opportunities to look at in auto stocks, particularly in small and midcap space, said Gurmeet Chadha, co-founder and chief executive officer, at the Complete Circle Consultants on Friday.

There are some good opportunities to look at in auto stocks, particularly in small and midcap space, said Gurmeet Chadha, co-founder and chief executive officer, at the Complete Circle Consultants on Friday. Chadha also expects PI Industries to double in next two-three years, while adding that he remains reasonably constructive on capital goods, especially L&T.
“We are reasonably constructive on capital goods,” said Chadha in an interview with CNBC-TV18. “We like Larsen and Toubro (L&T),” he said.
According to him, United Phosphorous Ltd (UPL) is going through a bad phase.
“The better call is still to look at PI Industries. It is a fantastic industry. Rs 1,000 crore quarterly revenues now, with Rs 200-250 crore run rate on profits, you will see doubling over next two-three years,” he said.
Chadha expects some consolidation to happen in auto stocks.
“There are still some good opportunities to look at. In smallcap and midcap space, Suprajit Engineering is a great company. Minda Industries – you have to look at it from a long-term view, use any opportunity to add. I continue to be constructive on Mahindra and Mahindra (M&M) and largely the farm equipment play,” he said.
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