Stock market expert SP Tulsian of 'Sptulsian.com' on Friday said he is upbeat on large cap FMCG (fast-moving consumer goods) stocks.
According to Tulsian, buying is coming back to FMCG, which is very comforting, "We have been giving buy call on most of the FMCG stocks in the last ten days, like Dabur, HUL and Britannia. However, do not buy non-index or midcap FMCG stocks."
Talking about the upside seen in Tata Global Beverages, he said, "People expect PE expansion on hopes of enlargement of product bouquet after acquiring consumer business from Tata Chemicals, where they have scope for good topline growth as well as margin expansion."
With regards to the election outcome, exit polls and market, Tulsian said, "It does not look like market has factored in fully return of NDA. I won’t be taking much comfort from exit polls as on majority times, they have been unreliable and biased. However, for some reasons, if the poll says that NDA is coming back with 280-300 seats, then you will see huge buying and upside on Monday. It would be advisable to either avoid trading or if one is brave, then be an investor and take positions in frontline quality stocks."