May 08, 2013, 06.38 PM IST | Source: CNBC-TV18

M&M Financial, Cholamandalam good quality stocks: Shah

According to Rajen Shah of Angel Broking, Mahindra and Mahindra Financial Services and Cholamandalam look very promising in the finance space.

According to Rajen Shah of Angel Broking, Mahindra and Mahindra Financial Services and Cholamandalam look very promising in the finance space.

Shah told CNBC-TV18, “In the finance space, if one wants to really look at good quality names, Mahindra and Mahindra Financial Services and Cholamandalam look very promising. M&M Financial has been growing at 25-30 percent plus over the past so many years. Even last year it grew at about 35 percent plus. This year, I think the profit should be at least growing at 30 percent.”

“Even after yesterday’s run up, the stock is still trading at about 12.5-13 times the earnings and it is a very strong candidate for getting a banking license because they have got a significant presence in rural part of the country,” Shah said.

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