Buy Tata Motors; prefer NBFC over banks: Kunj Bansal

Kunj Bansal of Centrum Wealth Management told CNBC-TV18, "I think it is a temporary phenomena that some numbers will be weak while some will be good but given the way Tata Motors is geographically spread all across the globe, it is certainly a buy. Also the reasons being the valuations which are now closer to around price to earnings ratio of 5." "In ICICI Bank, probably I would still wait and watch as to how things shape up in next one or two quarters for the whole of banking sectors, specially public sector banks and some of the private sector banks," he said."There are some holdings which we continue to hold but as a sector we currently prefer NBFCs over the banks. Of the two, for ICICI Bank and Axis Bank, if one were to compare then Axis is a better bank given the financials and valuations but it is a question that okay what do you want to focus upon. For non-performing assets (NPAs), clearly ICICI's watch book is far higher as compared to Axis Bank and so is the book ratio."