For long-term investors: Strong balance sheets & track record; 5 large-caps from different sectors with upside potential of up to 45%

As the Nifty and Sensex witness a phase of correction and value readjustments take place, it is likely that we will see a debate on value and growth on the street. How would you classify a cigarette business? As a growth business or a mature business? Probably a mix of both, with the word “mature” taking precedence over “growth”. The reason: It suggests the business has reached a certain level of maturity; and given that it deals in a product which sees growth every year, business growth is only to be expected. Another question: If the economy witnessed a slowdown, will the cigarette business see a slowdown? Probably not. Now, consider an airport business. Is it a growth or mature business? It is a business where growth is probably just taking off, so “growth" should take precedence over “mature”. So, time to be discerning in these volatile times.