Buy Titan Company on dips, says Deven Choksey

Deven Choksey of KR Choksey Investment Managers told CNBC-TV18, "To a greater extent I think in the jewellery business, it is the festive season effect which has played a good role. So, certainly for Titan Company, one can’t be expecting a similar kind of a quarter over quarter kind of performance. It might be some kind of distortion in subsequent quarters. However, leave that apart, I would think that this company is for long haul. I would not probably try and put my money immediately into this company unless some amount of correction in the price gives me an opportunity to buy into the stock.""Certainly, I think the view would be to buy at dips or at lower levels when the valuations become attractive; not immediately at this point in time," he said."One more quarter of I think higher amount of provisioning in ICICI Bank as the management stated is definitely given. One will have to look at the company seriously, more importantly because with the valuations, most of the negatives are getting priced in and suggesting that the stock price at this point of time has already corrected." "If it is going to correct further with this result, then certainly I think one will have to keep an eye on buying instead of selling at this point time into this stock. I am largely positive about most of the banks, as I would like to say, with the correction in the price and the valuation I would selectively pickup banks and would stay invested for at least two years in those companies. In the falling market it would be a good opportunity."