Expect financials to do well over medium-term, says Nippon India MF

Valuations are now supportive for financials to do well over the medium-term, said Vinay Sharma, Fund Manager of Nippon India Mutual Fund in an interview with CNBC-TV18. “Over the medium-term for two-three years, a good bunch of financials look quite attractive to us,” he added.

“The results yesterday and the management commentary after that has given some impetus to these stocks and if some of this commentary come true over next few quarters, that could provide further impetus to this sector because markets are factoring much higher levels of both restructuring and delinquency over the next three-five quarters,” Sharma said.