Positive on IndusInd Bank: Deven Choksey

Deven Choksey of KRChoksey Investment Managers told CNBC-TV18, "I feel that IndusInd Bank has remained on a very consistent track as far as the profit performance of the company is concerned. Generally, we have seen that the market has always liked those companies which are remaining consistent with the performance. On one side we have got HDFC Bank which has been demonstrating the consistent performance for last so many years. IndusInd Bank is second to HDFC Bank here and probably it is also showing the similar amount of character of remaining consistent with the performance." "Certainly, in this quarter I think the result numbers which you have said on expected side, I think they are looking quite robust. Given the fact that at the price to book value of 3.5-3.6 times at which it is trading and it is still discount to the HDFC, I would rather start believing that at some point of time this particular ratio would sustain. Certainly even though they may have 20 percent kind of appreciation, I would think that the company holds the promise. At the falling price it can make more sense to buy into the stock, so remaining positive on the company," he said.