Stock market expert SP Tulsian of 'Sptulsian.com' on Friday said he is upbeat on NCC and Berger Paints, but avoid Jain Irrigation and Ujjivan Financial Services.
Talking on the new finance minister, Tulsian said he and the market are happy with the choice of Nirmala Sitharaman, "Looking at her performance as defence and commerce minister, there would be no reason to complain. I have noticed that whenever she takes charge of any portfolio, she takes a complete grip of that ministry. So, let us hope that things will be positive in finance as well."
On Berger Paints, he said, "The results were not bad. Paints space was oversold and short positions were seen pending in the system, which might be getting squared of now. According to him, whenever there is an opportunity to buy paint stocks, one must look at them. Asian Paints is the first pick followed by Berger Paints."
"The current correction seen in NCC should be used as a buying opportunity by the investors and not by the traders. Even though there is a risk of the Andhra Pradesh government order of Rs 6,000 crore being cancelled, the risk-reward still not against buying the stock. I won’t be surprised if the stock were to move back to levels of Rs 105 in the current series. The order pipeline of the company is also very strong," he added.
According to him, "Ujjivan is not a stock one should buy at the current elevated level as an investor or trader, but instead one could look at other alternatives like Federal Bank, DCB Bank, ICICI Bank, SBI, PNB etc."
"Jain Irrigation has been a wealth destroyer for the last 4-5 years, but one is not sure what the reason for that is. One of the reasons could be rising debt, another could be that they are no longer enjoying the subsidy benefits. So, have a cautious to negative stance on the stock and maintain avoid. Those who already possess the stock should exit it," Tulsian said.