Looking at Infra stocks and not real estate: Gaurav Doshi, Morgan Stanley PWM

In a chat with ET Now, Gaurav Doshi, VP Equity Specialist, Morgan Stanley PWM, sahres his view on Infrastructure stocks.

ET Now: What has been your portfolio strategy? At these levels are you looking at buying infra/real estate stocks or are you still hiding in defensives?

Gaurav Doshi: Real estate is not on the list. Infra is looking extremely attractive but has punished us for two-three quarters in a row. Even though infra is looking very attractive on a valuation front, we have being very selective of what we are choosing. We are not touching any company that has disappointed majorly on earnings until we get more clarity on the interest rate scenario. Specific companies like Larsen have seen good healthy order book intakes in the last quarter and we do believe that the market is a little too pessimistic about earning. So, on a very selective basis we are looking at infra and not looking at real estate. In defensives, we have taken some money off the table.