Buy Dabur India on declines; bullish on ITC & Britannia also: Mayuresh Joshi, Angel Broking

In a chat with ET Now, Mayuresh Joshi, VP-Institution, Angel Broking, shares his views on various consumer stocks:

ET Now: Who are the re-rating candidates, given the rally that we have seen in consumer stocks so far?

Mayuresh Joshi: I think, Dabur is exhibiting strong amount of top line and earnings growth. The kind of product suite that Dabur has got alongwith the kind of distribution network, clearly displays the rural side of focus for a company like Dabur.

So, our own expectation is that the stock can do extremely well going forward. On declines, the stock can be bought into and this can entirely go into a different price zone in the next three to four years.

Coming to the large caps, we still remain bullish on ITC as the stock has a lot of potential going forward. Apart from its core cigarette business, I think that the FMCG, paper board business and the hotel business can do extremely well.

Dabur is also planning to foray into the stationary business in a big way going forward. In our opinion, investors can possibly make money in stocks like ITC, Dabur and Britannia over the next two to three years.