Market analyst Sharmila Joshi says the full impact of yuan devaluation in China is yet to play out completely. Markets are likely to be volatile in the near future and are unlikely to go up in a hurry, she added. (Watch)
Stock Talk
Buy Hindalco Industries: It looks attractive among metal stocks. Novelis numbers were bad and that has already been factored into the price. The stock can offer decent returns from current levels.
Buy Coal India: The stock can be bought at Rs 360 levels. Pricing is not an issue for the company, we can see improved numbers (financial & production) from here. The dividend yield on the stock is quite high. Investors can buy the stock with a view of 7-8 months.
Avoid BPCL: The company has reported very good set of numbers in the last quarter. Numbers are unlikely to improve further whatever be the scenario. The best has been factored in for oil marketing companies, so the gains will be limited from here. Don't see further upside in the stock.
Buy Ashok Leyland, Escorts, Tata Motors: Bet on these stocks due to their exposure to the commercial vehicle space.
Buy SKS Microfinance, Havells India, Motherson Sumi, NBCC: These stocks look attractive after recent correction. One can look at buying these stocks incrementally.
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