Hemang Jani of Motilal Oswal Financial Services on Wednesday said the entire BFSI space looked attractive. Within the space, he is positive on IndusInd Bank, Federal Bank, and AU Small Finance Bank.
“One is definitely getting a lot of comfort in the entire BFSI space. Apart from the larger ones like ICICI Bank and Axis Bank, which are doing well, one would also be looking at some of the midcap names. So, IndusInd Bank will definitely fit in there. We also like Federal and AU Bank within the smaller banking universe,” he said in an interview to CNBC-TV18.
Jain has an underweight position on the FMCG sector, but is positive on Hindustan Unilever (HUL).
“Defensives, and the entire FMCG space has not been the best performing lot. So, we have an underweight position as far as the sector is concerned. But within that, HUL is much better placed. It is one of our preferred picks within the consumer space,” he said.
In the two-wheeler space, Jani has a positive view on Bajaj Auto. “Within the two-wheelers, Bajaj Auto is something that we definitely like. We think that given the dividend policy that they have come out with, the perception is that you will see a 4-5 percent kind of dividend yield. Overall growth visibility is pretty good given the export market that they are into. So, it is something that we like,” he said.
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