Here are a few stock ideas by Deven Choksey

In an interview to CNBC-TV18 Deven Choksey, MD of KRChoksey Investment Managers shared his reading and outlook on the market and also gave recommendations on various stocks.

Below is the verbatim transcript of the interview.

Sonia: Let me get straight down to stocks because a lot of heavyweights have participated in this rally but the one that has stood out the most this month is ICICI Bank with almost a 20 percent upmove in the month of May. Is there still more steam left in some of these private sector banks? A: This is something which I would like to say is the beginning of a rally for many of the banking stocks maybe some of the corporate or the private sector banks could start and take the lead and maybe some of the PSBs would start to contribute hereafter. Largely because of two reasons. One is that larger part of the non-performing assets (NPA) recognition process is over. Secondly, more importantly the redemption of NPAs in form of collections, that process is now simply accelerating as we gather from the management talks of most of the companies. So that gives you promise that in subsequent quarters, the kind of pressure that we have seen in the balance sheets and the P&L of the banking companies, that is not going to be seen and at the same time we are going to see the impact of recovery coming into some of the banks at least earlier ones would be the private sector banks. So certainly this is gaining good amount of confidence to people to once again participate back and add into the portfolio. We are confident on this aspect and we believe that going forward, the earning should look up for the banking stocks.

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