Engineering stocks expensive: IV Subramanium, Quantum Advisors

IV Subramanium, CIO, Quantum Advisors, in a chat with ET Now talks about engineering stocks.

Do you find some of the engineering counters like L&T a little expensive at this current point of time? Do you think they are a little bit overbought?

Based on our analysis, we do find some of the engineering stocks to be expensive relative to their history. Therefore, we would be very cautious in these stocks. We still think that that you can probably buy them later at a much cheaper valuation. At this point, we definitely find them expensive.