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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.

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.”
First Published on Oct 29, 2018 03:21 pm
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