ITC is a good bet in current market: Vinit Bolinjkar

Indian equity benchmark indices were trading muted in the afternoon session amid high volatility tracking mixed cues from Asian peers. Concerns surrounding China's Evergrande Group crisis continued to weigh on investor sentiment globally. The BSE Sensex was trading at 59,069, up 0.1% led by gains in media and realty stocks. The broader markets however were seen outperforming. Vinit Bolinjkar, Head of Research at Ventura Securities, spoke to Money9 on what should be investors' strategy in the current scenario. "China situation will need to be monitored as to what steps will the government take to prevent Evergrande's collapse. This is a market where investors need to deploy more to high conviction stocks in their portfolio", he said. On the positive momentum in ITC he said that the company is a great play in the consumption space and may give further rewards to investors so one must definitely look at adding the stock. On the other hand on Vodafone Idea, he believes the story is best left out considering that problems may not get resolved even if the company gets some relief from the government. As a stock recommendation he believes a stock which could get re-rated from current levels over the long term is TCPL packaging and has the potential to climb to over 900 levels over the next 18-24 odd months.