Pick Shriram Transport, Bajaj Finserv: SP Tulsian

Pick Shriram Transport, Bajaj Finserv and Mahindra & Mahindra Financial from NBFC space , says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, "I will keep my positive stance more on the NBFC space. If you really see the performance or the behaviour, though the Bank Nifty has really been going up, but if you see the behaviour of the individual banking stocks of last one week, none of the PSU bank except SBI, I am not talking of the smaller or midsized PSU bank like Dena Bank and IOB which had participated to a small extent, but if you really see PNB, Union Bank, Oriental Bank of Commerce, Canara Bank, in last one week none of these banks have really participated in this rally."
He further added, "The Q2 numbers are not going to see any relief. So I will keep my cautious view definitely on these public sector banking stocks because the kind of run up which we have seen in all these stocks, the names which I have said just now, they all ran more than 25-40 percent in this last one month. So obviously the profit booking is very much warranted and that will definitely come even on a technical point of view."
"Come on the private sector bank, except for ICICI Bank if you really see the Yes Bank, yesterday in spite of the Bank Nifty having good behaviour Yes Bank was looking tired at Rs 400 plus, maybe Rs 405-406 was seen a good resistance. Same thing I hold for Axis Bank also, because the concerns on the asset quality will continue to be visible in the September quarter. So I am not too gung-ho on the banking stocks. So if you need to ask me to pick up some stocks in the finance it will be more in the NBFC space which we can pick up in the form of Shriram Transport, Bajaj Finserv, Mahindra and Mahindra Finance these stocks still look quite good."