Sanjiv Bhasin, Director, IIFL Securities, says though Honeywell Automation is now over Rs 55,000 a share, it still has a long way to go and is heading towards Rs 1 lakh. Honeywell was the first company Bhasin bought when he joined the stock market at Rs 89. Honeywell is in digital automation, and it is in everyday life. It is a Dow component.Bhasin says Honeywell has just started. So, fingers crossed, maybe Rs 75,000 can come in the next two years.
What have you made of the recent spate of numbers? We discussed Mankind Pharma in the morning and now M&M as well has come out with superb numbers.
Sanjiv Bhasin: Yes, earnings are a beat. Look at Hindustan Aeronautics. The numbers are very strong and that is telling you that this volatility is not there to uncertain you, it is there to give you an opportunity to buy and look at what you want to make your portfolios.
I like Hindustan Aeronautics, where even though a large part of the run-up is in the price, the numbers and the margins are very strong. Mahindra has been a star outperformer where we expected tractor sales or farm output to be low, but their farm and other equipment has done very-very well. So, the overall numbers are very strong and that is telling you that the undertone of FII selling is there because of the China factor and other things, but we are now looking well on course to go higher.
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If you are in the correct stocks, then you are definitely good. Today, there has been a huge bout of profit booking in PSUs. I would say start looking at names like NALCO, IOC and SAIL because there we are very positive. IOC would be my top pick over here. PSUs are giving you an opportunity, try and get into good names.
Within the industrials, Siemens, ABB, and now Honeywell, all have reported good sets of numbers and I have seen a reaction too. Is there any stock in industrials or capital goods which is still a buying opportunity?
Sanjiv Bhasin: I joined the stock market in 1989, Honeywell was the first company I bought and I still have some shares of it bought at a price of Rs 89. This is heading to one lakh. Honeywell is in digital automation. It is in everyday life. It is a Dow component and the type of run-up you have seen in manufacturing, I think Honeywell has just started. So, fingers crossed, maybe Rs 75,000 can come in the next two years but as a disclosure, this has been one of my first stocks which I bought when I entered the stock market.
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