Prefer Eros International Media: Jigar Shah

Jigar Shah of Kim Eng Sec India told CNBC-TV18, "In our view the kind of downfall that Eros International had along with its parent company on NYSE, that whole episode in my opinion seems to be now dying down. The company has made its own explanations and the focus of the investors is coming back to the fundamentals. So, I believe that with the kind of movies that they have lined-up for this quarter and next, we expect some of the other clarifications also to emerge over the next one or two months which the company had promised. Once those things happen it will take away that concern and the focus will go back to the core business where they seem to be doing very well. This is probably their best year.""The stock is now trading at just about 7-8 times earnings for the next year. So, that looks extremely compelling given that they have the number one position as a studio and the prospects look very exciting for the next 2-3 years whether we look at the Box Office or TV syndication or digital business," he said."We are very positive on Axis Bank and we think that the gap in the valuations with HDFC Bank can narrow once the next couple of quarters numbers come out because we think that the asset quality aberration which was there in Q2 was a short term factor and the company will be able to overcome that in the next couple of quarters.""Overall their growth in retail market and their margin, their RoE etc are quite strong and therefore we think that this is an aberration and has created an opportunity to buy the stock around 2-2.2 times price to book one year forward which we think is very attractive level to look at Axis Bank."