homemarket NewsAmbit Capital reckons SBI, Axis Bank and Zomato and PB Fintech are buys at current price
Ambit Capital reckons SBI, Axis Bank and Zomato and PB Fintech are buys at current price
In an interview with CNBC-TV18, Dhiraj Agarwal, Co-Head of Equities at Ambit Capital said that there are still opportunities for investors to find good deals in the market. One such opportunity is State Bank of India, which he considers to be a good buy now after experiencing a 20 percent fall from its highs.
There are still opportunities for investors to find good deals in the market and one such opportunity is State Bank of India (SBI). SBI is one of the largest public sector banks in India and has a strong presence across the country.
In an interview with CNBC-TV18, Dhiraj Agarwal, Co-Head of Equities at Ambit Capital said that there are still opportunities for investors to find good deals in the market. One such opportunity is State Bank of India (SBI), which he considers to be a good buy now after experiencing a 20 percent fall from its highs.
“SBI, after the 20 percent fall may be a good buy, but some of the other banks who are yet to fully price in the oncoming margin pressure may not be,” Agarwal said.
Talking about Indian equity market, he said that the market is likely to be range-bound for quite some time, which means that it may not experience significant upward or downward movements soon.
In addition to SBI, Agarwal also likes Axis Bank, which he believes is one of the largest private sector banks in India. SBI is a major player in the public sector banking space. Both banks have a strong presence in the Indian market and are known for their robust financial performance.
Apart from banking names, Agarwal also likes Zomato and PB Fintech. Zomato is a food delivery and restaurant discovery platform that has gained immense popularity in recent years, while PB Fintech is the parent company of Paytm, a leading digital payments and financial services platform in India.
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He said, “There was a time when the markets lost a little bit of a sense of control on how to value the new age companies. And they were being valued in any parameter. Well, we have seen the dotcom bubble in the past, but post the bubble burst, post 70-80-90 percent stock correction, there are always a few gems to be bought and held for the long term. So, I think the time has come.”
For more details, watch the accompanying video
First Published: Feb 23, 2023 2:27 PM IST
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