Gaurang Shah, Senior Vice-President at Geojit Financial Services, on Wednesday reiterated his positive stance on select blue-chip counters, particularly Larsen & Toubro Ltd (L&T) and , while urging investors to stay away from a few beaten-down stocks such as (JP Power) and Reliance Power Ltd ( ) at current levels. Advertisement

Speaking to Business Today , Shah said he remains optimistic about L&T due to its diversified business portfolio and strong execution record. "We've been positive on L&T for a very long time. It has got diversified business -- be it complex engineering, infrastructure, hydrocarbon, turnkey projects or the big theme that I am extremely positive about, which is defence," he said.

Calling the company "one of the most investor-friendly," Shah noted that L&T has con

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