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