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market | IST

Centrum Broking continues to be positive on rural and corporate banking space

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Nischal Maheshwari, CEO-Institutional Equities & Advisory at Centrum Broking says to be positive on the rural banking sector , especially on the corporate banking side.

Nischal Maheshwari, CEO-Institutional Equities & Advisory at Centrum Broking says to be positive on the rural banking sector , especially on the corporate banking side.
“IndusInd Bank has been a very strong performer in the last few quarters and thereafter it’s a laggard because now the preference has changed from retail oriented banks to more capex oriented banks, and that’s why we are seeing this kind of a situation,” he added.
“I continue to believe that retail banks should be in a bit of a pressure going ahead also,” Maheshwari further added.
When asked about the auto sector, he said, "We prefer 2-wheelers as rural demand will get a push given government's thrust."
Talking about his preference in stocks, he said that he likes Shriram Group stocks, like Cholamandalam Finance and  Sundaram Finance considering the current valuation."
He believes YES Bank has a good buying opportunity, and thus gives out a BUY rating on the stock if it continues its earnings growth in the next 2 quarters.
Commenting on the IT sector, Maheshwari says that the IT space has peaked out for the near-term. However, top picks from this space would be Infosys and Tech Mahindra.