"Oil marketing companies (OMCs) is something we have been cautious on for a while," said Girish Pai, Head of Research at Nirmal Bang Institutional Equities.

He spoke at length about HCL Technologies and non-banking financial companies (NBFCs) .

“The commentary from the management (HCL Technologies) was fairly positive when the quarterly numbers were put out in January,” he said.

"In NBFCs, we look at housing finance and gold finance space. Within the housing finance space, we like PNB Housing Finance and Can Fin Homes,” said Pai.

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.