Add Asian Paints in portfolio, says Deven Choksey

Deven Choksey of KRChoksey Investment Managers told CNBC-TV18, "I think it should be positive for the paint companies going forward because lower raw material prices augurs well for the industry and the companies particularly Asian Paints. On the other side one would also like to look at the reality check in the sense that some of the pipeline inventories of the raw material at higher cost would keep the margin under pressure for some more time." "For margin to improve for these paint companies, the crude oil price should remain sustainably at lower levels for good period of time, stability would produce better margins for these companies and that is where one could ask for the premium valuation for this business though on the business front, I am positive but on the margin front, I would like to see every quarter some amount of improvement taking place and then take a call. I think they are investment grid companies, so definitely one could say it is an opportunity in falling market," he said."So, continue to have that approach that during the course of the fall in the market, for any reason, this company becomes an opportunity to add into the portfolio."