Pick PTC India Financial Services: Kunj Bansal

Written By Unknown on Senin, 16 Maret 2015 | 18.00

Kunj Bansal of Centrum Wealth Management is of the view that one may pick PTC India Financial Services.

Kunj Bansal of Centrum Wealth Management told CNBC-TV18, "Instead of banking I would expand it to say non-banking financial companies (NBFC) space in a broader way. Within that I am focusing on midcaps because that possibly should be of a broader interest; largecap stocks are relatively well identified."

"Within midcaps in the NBFC space, PTC India Financial Services  is our pick. The stock has corrected significantly from a peak of almost Rs 75 to currently trading at around Rs 55-56 at which level it is now at an attractive price to book of almost 1.5 times forward with a return on asset which will be closer to 3.5 percent. So, given the relatively higher return on assets within the NBFCs and within the bigger broader BFSI space it is now trading at a very attractive valuation and offers very good investment opportunity," he said.

"Company's net interest income as well as profit will grow almost at a 30 percent plus growth rate for the next two years and company currently has close to zero NPAs," he added.


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