I would like to make a couple of points here. In equity markets, long term investing is not about 1 or 2 years but a time frame of at least 5 years. Let me now come down to your specific stock queries.

Bajaj Hindustan is one of the largest sugar manufacturers in India and has had a volatile price performance in the last few months. The first big challenge for Bajaj Hindustan is the massive sugar glut that has been the norm in the last couple of years. However, this year could be different for two reasons. Firstly, the sugar output is likely to be lower due to problems of drought in Maharashtra and that could ensure that supply comes down. Secondly, the government has given big incentives for export of sugar and that should help the sugar companies. However, the huge outstanding dues to farmers for cane supply remain an overhang for the sugar sector. You can look at Bajaj Hindustan for short term but not too sure about the long term.

SBI Life in my view is a very good stock for the long term. Private insurers are increasingly taking away market share from LIC and the share of LIC is now down to 68%. The biggest beneficiary of this shift has been SBI Life. The stock is also likely to benefit from the huge branch network of SBI. The stock of SBI Life is already quoting at an all-time high and it has just started to get re-rated. You must have SBI Life in your long term portfolio because life insurance penetration is still very low in India.