Buy L&T Finance Holdings for long term: kunj Bansal

Kunj Bansal of Centrum Wealth Management told CNBC-TV18, "Results season has in fact largely been in-line with expectations. While the feeling comes that there is too much of negativity that negativity was probably foreseen much earlier except maybe the public sector banking space or even the private sector banking space wherein the non-performing assets have (NPAs) have been higher." "If we scan the result across sectors, two, three stocks particularly in midcap clearly come out which become buy from a medium to long-term perspective. Since I talked of the financial sector, one of them is L&T Finance Holdings. So, while in terms of specific stock momentum, it is not showing strength as let us say Bajaj Finance or Capital First and all but in terms of business growth that we see, the company reported almost 20 percent growth in quarter (Q3). One of the few companies which have reported growths and that too to the extent 18-19 percent in such a scenario wherein not much growth or rather de-growth is being reported," he said."With the correction that has come in, in last few days and even earlier, this stock is now available at a price to book of 1.2 times. With the market or even otherwise the stock can go down further but leaving aside those short-term movements, I think for a medium to long-term investor, company is worth buying."