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Good opportunity to buy select stocks in falling market, says Deven Choksey

Updated : June 28, 2018 11:24:52 IST

Deven Choksey, managing director at KR Choksey Investment spoke to CNBC-TV18 on Indian equities and specific stocks.

“On one side we have nervousness in the market, so buying is absent. Taking the advantage of this nervousness are the traders who want to go short into the counters," said Choksey.

He shared his views on stocks and sectors like IT, pharma, Ashok Leyland, Bajaj Finance, IndusInd Bank, HDFC Life and Tata Motors.

"From the fundamental perspective, select midcap companies are doing exceedingly well. Their management commentaries have been very positive and the promises are for the better earnings growth in the current year. So certainly, as an investor, I would take this as an opportunity to buy into select stocks in the falling market because the fall is unnatural and short-lived, at some point of time, it will recover faster also,” he said.

With regards to pharma space, Choksey said, “Some of the pharma companies look more interesting at this point of time given the fact that they have the launches ahead in the second half of this financial year and also in calendar year 2019 where some of the generic pharma companies are entering into the specialty product segment where they promises to produce better margins going forward. So we look forward to that kind of a possibility within the pharma basket at the select companies."

“Ashok Leyland looks relatively more appealing to us, very interesting to us. It promises to be a good company going forward,” said Choksey.
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