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videos | IST

Centrum Broking recommends a 'buy' on Axis Bank

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Nischal Maheshwari, CEO - institutional equities & advisory at Centrum Broking spoke about his reading of the market and his outlook.

Nischal Maheshwari of Centrum Broking says it is a good time to buy Axis Bank, after the bank announced appointment of Amitabh Chaudhry as the managing director and CEO of the company.
“One thing which has become very clear as far as Axis Bank is concerned, the uncertainty is over that who is coming and joining. Obviously, Amitabh Chaudhry has a very good stint at HDFC Life. So there would be very good expectations built up there and going ahead given that the economy is turning around, I think there is a good spot to be buying Axis Bank,” he said.
Further talking about consumption, he said, "I am very positive on the whole consumption sector given that we have got a good monsoon ... so the festival season will drive the next two quarter’s demand. So I think one should be continuously either accumulating it or just sit on that,” said Maheshwari.
“We have been very positive on Reliance Industries Ltd (RIL) particularly and I continue to remain that way,” he added.
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