homemarket Newsstocks NewsPrefer Minda Industries, would bet on long term, says Complete Circle's Gurmeet Chadha
Prefer Minda Industries, would bet on long-term, says Complete Circle's Gurmeet Chadha
Discussing the fundamentals of the market and outlook on various stocks on Thursday, Gurmeet Chadha, Co-Founder and CEO, Complete Circle Consultants said his preferred pick in auto ancillary segment is Minda Industries.
Discussing the fundamentals of the market and outlook on various stocks on Thursday, Gurmeet Chadha, Co-Founder and CEO, Complete Circle Consultants said his preferred pick in auto ancillary segment is Minda Industries.
“The way they have done joint ventures (JVs), adopted technologies, they are moving into more value per car - that is what is going to differentiate the ancillary space and suppliers to original equipment manufacturers (OEMs). So I would bet safely more on the long-term.”
Consistent growth in the paid subscribers in IndiaMART InterMESH Ltd has been impressive despite the COVID-19 hit, he said.
“I would be more interested to see what they do with the qualified institutional placement (QIP) proceeds.”
In terms of public sector undertaking (PSU) banks, Chadha said, “I don’t think the non-performing assets (NPAs) problems are over for PSU banks. There is exuberance in what the prices are. For long-term State Bank of India (SBI) to me makes sense.”
On BoB, he said, “Credit cost guidance would be in the management range. I have been looking at the stress book very closely. If they can maintain the credit cost with some lumpy recoveries as we move into this quarter and next quarter, you could possibly see some upside there as well.”
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(Edited by : Ajay Vaishnav)
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