BSE, L&T, Bharat Forge, Navin Fluorine, Sundram Fasteners shares: Expert weighs in

Market expert Avinash Gorakshkar believes the long-term story for BSE Ltd shares remains intact despite the stock slipping on Monday after Jefferies downgraded the counter to 'Underperform'.

On BSE, he told Business Today, "In the short term, the changes in the F&O (Futures & Options) segment are definitely going to impact its volumes. But the good part is that the NSE IPO is expected to hit the market in September, and it would get listed on BSE. So, I think, to a large extent, the markets are clearly waiting for this event. Once NSE gets listed, you're going to see a lot of volume activity on BSE. My sense is that you have to see BSE as a long-term structural story."

Gorakshkar added, "At current levels, the stock could be expensive, but from a longer-term portfolio perspective, any weakness should be used to accumulate this one."

The market expert also identified Larsen & Toubro Ltd (L&T), Navin Fluorine International Ltd, Bharat Forge Ltd and Sundram Fasteners Ltd as his preferred picks.

"We are looking at L&T after strong Q1 numbers. Order book has grown by almost 14-15 per cent despite challenges in the Middle East. So I think L&T definitely deserves a second look. From the chemical pack, Navin Fluorine also looks interesting," he stated.

"I think the chemical sector seems to have turned around. A lot of interest from funds and investors has started coming in. So Navin Fluorine could be a good bet. From auto ancillaries, we continue to remain positive on stocks like Bharat Forge and Sundram Fasteners," Gorakshkar also said.

"The auto components segment is going to be a much more interesting space because clearly, all segments of the market are showing very strong volume growth," he further stated.