Bullish on Ashok Leyland, M&M and L&T: Mayuresh Joshi, Angel Broking

In a chat with ET Now, Mayuresh Joshi – VP, Institution, Angel Broking, shares his views on markets. Excerpts:

ET Now: The pocket in news for the last two days is defence, anything stands out to you as the most promising one because almost everything is getting bought into in the defence space right now?

Mayuresh Joshi: We would prefer the indirect place, not pure play defence plays because we do not have coverage on that but Larsen & Toubro, Mahindra & Mahindra are some stocks which can do well or even something like an Ashok Leyland is also catching up with pick-up in MHCV segment. We believe it is a dual story of financial leverage. Any defence orders trickling through for Ashok Leyland would also hold it in good stand. So, Ashok Leyland, M&M, L&T remain our preferred picks.