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Would invest money in Indian Bank, says G Chokkalingam

Updated : May 14, 2018 02:06 PM IST

G Chokkalingam, founder and Managing Director of Equinomics Research & Advisory, discusses with Sonia Shenoy and Ekta Batra his analysis on the fundamental side of the market as well as specific stocks and sectors.

Chokkalingam on the back of Q4 results said he would invest money in Indian Bank.

Chokkalingam said, "It is the best public sector undertaking (PSU) bank among 22 listed PSU banks. Profit is down, but its asset quality remains very strong. It is lowest in non-performing asset (NPA) and also price to book value is the lowest among all the PSU banks."

He added, "Credit is still growing at around 16% and that is very important when the banking industry faces a lot of crisis in terms of NPA. So, it fulfills all the criteria. So, I believe, based on the results, Indian Bank is one pick which can create a lot of wealth for the investors."

In the midcap information technology (IT) space, Chokkalingam strongly recommended Persistent Systems. He believes that it is the cheapest among all of the mid-sized IT companies.

Chokkalingam also recommended buy for Nesco and Britannia in the fast moving consumer goods (FMCG) space.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
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