Buy Sundaram Finance, says Kunj Bansal

Kunj Bansal of Centrum Wealth Management told CNBC-TV18, "Sundaram Finance is clearly one of the better buys; there are lot more good investment opportunity in the NBFC space. The reason I have picked this particular stock today is for two to three things. One of course on valuation, one can have a view whether cheap or expensive or optimum because the stock is available at a forward price to book of 3 plus. So, not necessarily that it is very cheap but let us keep in mind that when one buys Sundaram Finance, one also gets an exposure to its holding into three other businesses that is insurance, asset management and home finance." "In addition, it sits on standalone business of vehicle financing which is doing very well. The company has gross non-performing assets (GNPA) of 2 percent and net NPA of less than 1 percent. It has been consistently growing, knows its business and has been in the line for quite some time. It also has well managed financials and that is the reason for me to pick the stock," he said.