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.