Sanjay Dutt, director of Quantum Securities, on Wednesday, said that Larsen & Toubro (L&T) is a big bet even though it has been a relative underperformer.
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Speaking in an interview with CNBC-TV18, he said, “My biggest bet in infrastructure at this point is Larsen. It has underperformed for the last decade or two and it’s a great play. Therefore, buy it on a short dip, buy it on every dip and just remain invested.”
“In the last two-three years there has been a structural shift to larger players across all segments whether it’s consumer staples, non-staples or any of the FMCG players – they have survived. Therefore, these stocks could definitely be bought into at any dip by most of the new investors who come to the market because there is safety in them,” said Dutt.
Dutt is bullish on ferrous and non-ferrous stocks as a super cycle is in the works. He continues to prefer large banks like ICICI Bank and State Bank of India (SBI) over the smaller ones.
On equity markets, he said, “We are in a strong bull market as far as India is concerned. Next 3-6 months, one cannot gain because this quarter’s (Q1FY22) numbers are going to be rough. So, wait for an opportunity to buy some more when a shakeout does happen but do not try and gain the shakeout.”
For the entire interview, watch the video.
