Wait and watch for consumption stocks: Gaurav Doshi, Morgan Stanley PWM

Gaurav Doshi, Morgan Stanley PWM, in a chat with ET Now, gives his views on consumption stocks.

Which is your favourite consumption stock?

Consumption stocks are expensive. I like them but I think that valuations do not justify any recommendation right now. I would wait for results to see whether these companies can sustain valuations or not because I do not expect too much on the operating income front and operating margin front for consumption stocks.