Stay with IDFC: Choksey

Deven Choksey of KR Choksey Securities is of the view that one can stay invested in IDFC.

Choksey told CNBC-TV18, "Banking space cannot be neglected. What has happened in form of the banking stocks; the derating which took place in banking stocks. We kept on saying that these valuations are too lucrative probably one should get into even today SBI at more than Rs 1,500 levels, I find this bank is solidly placed. I think the kind of derating because of the mark to market provisioning requirement on the Advance Financial Solutions (AFS) portfolio of the government securities, I think probably that may reverse if the interest rate is to remain softer in subsequent period of time."

He further added, "I would bet on SBI; I would bet on the derated stocks like IDBI because they are looking quite interesting from the valuation point of view of course the private sector bank like ICICI, HDFC Bank, Axis Bank they still remain in the portfolio. So quality large size banks would remain in my portfolio even I think some of the players like IDFC would stay in the portfolio rather accumulate in this kind of times in my portfolio and stay long invested in these kinds of companies.

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock and sector.