Balmer Lawrie, Concor & Hindalco: What Mayuresh Joshi of William O'Neil says on these 3 stocks

Mayuresh Joshi, Head-Equity Research at William O'Neil India, on Friday said India's structural story -- both from macro and micro perspectives -- will continue to stay strong. Over the next few weeks, as the elections results come nearby, domestic benchmarks may give a decent buying opportunity, Joshi told Business Today TV.

On the stock-specific front, the market expert selected Balmer Lawrie and Company Ltd as one of his top picks. "The PSU enterprise has very marginal debt and its operating margins have improved significantly. The earnings growth has also compounded at a very decent pace," Joshi stated.

Balmer Lawrie's stock was last seen trading 0.92 per cent lower at Rs 275.95 today.

The other stock which the market expert suggested was Container Corporation of India Ltd (Concor). "The last phases of Western dedicated freight corridor is expected to get completed over the next two quarters. As that happens, the complete line which becomes operational gives a huge impact and fillip in terms of overall volume growth. EXIM (export-import) is a large part of Concor's trade. As EXIM is expected to come back gradually, I think volumes and numbers should start playing up for Concor," Joshi underscored.

Concor shares were down 1.29 per cent at Rs 1,003.20.

The analyst also liked Hindalco Industries Ltd shares from the metal space. "Aluminum prices and its inventories are at all-time low. At some point of time as the restocking starts taking place, aluminum rates will pick up. We've very strong expectations in terms of guidance on Hindalco," Joshi said.

Hindalco's stock was up 1.36 per cent at Rs 626.60.

Meanwhile, Indian equity benchmarks were trading higher today, led by gains in metals, pharma and consumer stocks. Broader market (small- and mid-cap shares) were also positive.

14 out of the 16 sector gauges -- compiled by the NSE -- were trading in the green. Sub-indexes Nifty Metal, Nifty Pharma, Nifty FMCG and Nifty Consumer Durables were outperforming the NSE platform by rising as much as 1.06 per cent, 1.15 per cent, 0.87 per cent and 0.75 per cent, respectively. However, Nifty IT and Nifty Realty slipped today.