Kunj Bansal positive on BPCL, Tech Mahindra, Persistent

Kunj Bansal, CIO of Sanlam India Investments told CNBC-TV18, "Stocks from PSU banking space like State Bank of India (SBI) and Punjab National Bank (PNB) could be some ideas to look at. If the rally continues, they could give anywhere in the range of 5 percent to 10-12 percent return in the short-term."

He further said, "If we look at IT sector, we have stocks like Tech Mahindra and Persistent Systems which are available at attractive valuations now. Not only that, their earnings will go up given the fact that US economy is doing well, the rupee depreciation will help them. Given the bipolarisation in the market, they could be candidates for rerating as well." "These are the stocks which can benefit from both fundamental earnings improvement as well as rerating. If one takes a slightly contrarian and even more long-term view and assuming that the rupee has bottomed out against the dollar I think Bharat Petroleum Corporation (BPCL) from the oil and gas space is another stock which looks good for medium term," Bansal said. Also Read: India scrambling to cut oil bill inflated by sinking rupee