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Use correction to buy Alembic, DRL; be patient with Asian Paints: Mehraboon Irani

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Use correction to buy Alembic, DRL; be patient with Asian Paints: Mehraboon Irani

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Asian Paints is a hold for now, said Mehraboon J Irani, MD and CEO at Gini Gems Consultants in an interview with CNBC-TV18. “The price increase which happened in exterior and water-proofing segment, decorative segment, double digit growth – nothing is wrong. Everything is moving right for Asian. Absolutely no complaints,” he added.

Asian Paints is a hold for now, said Mehraboon J Irani, MD and CEO at Gini Gems Consultants in an interview with CNBC-TV18. “The price increase which happened in exterior and water-proofing segment, decorative segment, double digit growth – nothing is wrong. Everything is moving right for Asian. Absolutely no complaints,” he added.
People who believe in the long-term can go ahead and buy into it, he said.
“With the correction which we are seeing in the pharma stocks, it is time to possibly look at a couple of pharma companies. Alembic Pharma and Dr Reddy’s Laboratories (DRL) will be my best bets,” he added.
According to him, midcap IT space in terms of valuations is not comfortable but in terms of numbers, the story looks extremely good. “The company in which I would possibly like to put in my money – again the valuation is not very comfortable – is a stock which cannot be valued easily, it is Tata Communications,” he said.
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