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Dipan Mehta, Director at Elixir Equities is very positive on banks and non-banking financial companies (NBFCs). He believes this sector has a good buying opportunity for investors to increase their exposure currently.
“We are seeing the earlier phase of the lockdown where the banks bore most of the brunt,” Mehta said in an interview with CNBC-TV18.
“Resultant slowdown in lending and a slight uptick in non-performing assets (NPAs) will be absorbed by the banks and NBFCs. They offer a good opportunity for investors to increase their exposure. These are good times to get into good solid banks or good NBFCs with one-two year type of a view,” he added.
“One should be a bit careful as far as Avenue Supermart is concerned. From a longer-term investment perspective, buying at these levels may not give you that kind of an outperformance,” he explained.
Mehta is positive on Indian fast moving consumer goods (FMCG) companies like Dabur, Emami, and Marico.
“I think these companies will do far better than the MNC FMCG companies. Also, the entire play on Ayurveda and health and hygiene theme will be better placed in Indian FMCG companies. These are the companies that we are focusing on,” he said.
“I am more comfortable in buying the likes of Infosys and HCL Technologies. Tech Mahindra could be a Dark Horse,” Mehta pointed out.
For more, watch the video…
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