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September 06, 2018 06:21 PM | Market

Kotak Mutual Fund prefers NBFCs with strong retail book than wholesale lending

Kotak Mutual Fund said the house prefers Non-banking Financial companies with a strong retail book rather than those into wholesale lending.

"The house likes NBFCs from the asset reconstruction space," said Harish Krishnan, senior vice president and equity fund manager, Kotak Mutual Fund.

"The big chunk of growth will come from the banking system, which has seen pain over the last three to four years," Krishnan said.

However, the growth will come more towards FY20 than FY19, he said, adding that there is no big hurry to get into markets.

“No compelling reason to allocate fresh money into Indian equities with elections on the horizon and one should be a bit tempered at this point of time. So lighten the expectations from equity markets as a whole” he said.
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