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Last Updated : Oct 30, 2018 02:22 PM IST | Source: CNBC-TV18

Optimistic on NBFCs like M&M Financial and Cholamandalam, says HDFC Securities

On the stocks front, Seth said that he would buy IndusInd Bank at current levels because of the strong management

CNBC TV18 @moneycontrolcom

CNBC-TV18

Dipen Seth, head of institutional research at HDFC Securities, spoke to CNBC-TV18 about the current trends in the Indian equities market and shared his outlook.

“All the right things have happened for the last four-five years; we have moved more towards financialisation of savings, we have moved towards more formalization of the economy, we have crazily built in infrastructure and now there is a bit of a shaken faith, I think there is a Diwali sale out there and for those people who thought they were missing out on free ride, this is the time to start nibbling at equities,” Seth said on Monday.

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On the stocks front, Seth said that he would buy IndusInd Bank at current levels because of the strong management.

He said that the brokerage is optimistic on non-banking financial companies (NBFCs) like Mahindra & Mahindra Financial Services and Cholamandalam Investment and Finance Company.

"We like RBL Bank as a long-term investment. It’s possible to see 30-35 percent growth rates over medium-term," said Seth.

Talking about Mindtree, Seth said, “Our target price is a very aggressive Rs 1,210 and at today’s price Mindtree is trading for 15x on FY20. I would say that earnings visibility and growth visibility for Mindtree is completely unlike the rest of the midcap IT pack. We are very confident on the trajectory here on.”

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First Published on Oct 29, 2018 03:21 pm
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