Investors can look at buying these stocks post some correction, says market expert SP Tulsian

"If you are positive on the ferrous stocks then probably on the comparative basis probably you have JSPL as the third or fourth preferred buy because people prefer the larger ones may be like Tata Steel, JSW Steel and we have been keeping the positive bias on the Steel Authority of India (SAIL) and JSW Steel. Going forward fundamental weakness will definitely be seen getting captured more by the stock in the time to come, so advise to exit or remain away from making a fresh buy.”

On Ujjivan Small Finance Bank, Tulsian said, “If you really take a call on market cap of Rs 9-9.50 thousand crore, I am fully convinced with the growth posted by the bank in the first half of FY20 of almost about 80 percent but I don’t think smaller banks with such a high market cap of 9.50 thousand crore is justified."

"With regards to arbitrage play, if you take a call on the Ujjivan Finance that has an arbitrage of maybe about 50 percent or maybe more than that because 83 percent of the Ujjivan Financial Bank is held by Ujjivan Small Finance. So may be strong hands who have been active in the grey market will keep this momentum on but eventually, the price has to correct maybe to around Rs 45- 48 in next couple of weeks.”

When asked about gold loan companies he said, “We have been keeping a positive view on the gold companies both Muthoot Finance and Manappuram Finance  but we are more positive on Manappuram.  I remember having recommended from the level of Rs 132-155, but having moved to a level of Rs 175-180 it would be advisable to allow the share to correct to about Rs 165-168 level and then look to re-enter."

Fundamentally,  as the H1 numbers, the Q3 will be equally exciting for both Muthoot and Manappuram  and will keep the share price momentum intact. "I don’t think buying now at the current level is advised allow it to correct by may be about 4-5 percent and then look to buy again.”

On Repco Home Finance he said, “I have never liked this stock maybe since it is listing in the last 3-4 years because firstly the kind of de-growth or the erratic volatility in the performance and in the share prices. When you have so many choices available in the housing finance space, there is no point in deliberating on Repco Home Finance and one should give a pass to the stock.”