Porinju Still Upbeat on Godrej Ind, Tata Global Beverages, Indian Hotels | CORPORATE ETHOS

Porinju Still Upbeat on Godrej Ind, Tata Global Beverages, Indian Hotels

By: | April 2, 2018
Porinju Picks

Porinju Veliyath, Managing Director of Equity Intelligence, leading portfolio management services (PMS) firm, continues to be positive on consumption theme in investing holding on to Godrej Industries (BSE:500164, NSE: GODREJIND), Tata Global Beverages (BSE:500800, NSE: TATAGLOBAL). These large cap companies have good promoters with proven track record of wealth creation, he told ET Now.

He is also quite upbeat on Indian Hotels Co Ltd  (BSE:500850, NSE: INDHOTEL) whose shares have gained 5% to Rs 133.80 in noon trade. Net profit rose 21.11% to Rs 112.61 cr in Q3FY18 while sales rose 6.02% to Rs 1,197.26 cr. Investors could also look at Godrej Agrovet (BSE:540743, NSE: GODREJAGRO).

He has advised new investors to steer clear of PSU bank stocks until the dust settles on the NPA and fraud issues. However, he was positive on IDFC Bank (BSE:539437, NSE:IDFCBANK). The bank had reported 20.6% fall in net profit at Rs 146.11 cr in Q3FY18. Sales fell 5.09% to Rs 1,223.93 cr.

Despite all the political uncertainties and volatility in stocks, he expects equities to remain one of the best investment avenue for investors.