Hold Bharat Financial Inclusion for long term: Vijay Chopra

Vijay Chopra of enochventures.com told CNBC-TV18, "I am fairly bullish on microfinance institution (MFI) and I think all the companies in this space may it be Ujjivan Financial Services or Bharat Financial Inclusion (SKS Microfinance) or other microfinance companies they should do good. They have a very strong business. The default rate is very low because first of all the loan amount, the exposure on the particular person is low. Secondly, the default rate is very low. So, whenever you have a loan book where the default rates are low I think there is a huge possibility of the money to be made.""SKS Micro is used to be a darling of the traders at one point of time. It has sprung back very strongly. I think that somebody can hold on to a long-term perspective, Rs 1,000 is the target. However, again even in the medium-term I see Rs 850 levels coming on the stock, so definitely hold on to the stock and don’t get panic on any kind of market movements," he added.