Stay clear of multi-national fast-moving consumer goods (FMCG) companies, said Dipan Mehta, Member of BSE and NSE.

Speaking to CNBC-TV18, Mehta said the companies like Hindustan Unilever Ltd (HUL) and ITC are operating in areas, where a high degree of penetration has already taken place and they are produce matured products.

Mehta said investors can invest in companies like Emami and Godrej Consumer, which is in to insecticides as well as hair colour.

According to Mehta, there are many choices and options available in India other than FMCG companies, when you want to play the rising consumer story.

Positive on Bajaj Finance, Jubilant Foodworks, Titan and Page Industries as these companies are showing good numbers.

Investors are prepared to pay higher valuation as long as they see visibility, superior growth, good quality balance sheet, excellent corporate governance standards in companies.

If these parameters are fulfilled, then investors are prepared to wait out for a long period of time and they do that by buying stocks with high price earnings ratio.

So, investors are prepared to pay higher valuation so long as they see visibility, superior growth, good quality balance sheet and excellent corporate governance standards.

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