Bajaj Finance is a must own stock in every portfolio, said Dipan Mehta, Member, BSE and NSE.

Speaking to CNBC-TV18, Mehta said, Bajaj Finance is one of the best non banking finance companies (NBFC) in India at present, with best possible growth rate and balance sheet quality.

Mehta said investors have to take advantage of corrections and buy Bajaj Finance.

Many fund managers and portfolio managers do hold Bajaj Finance as part of core holding and incremental capital is getting into this stock, which is why the stock keeps hitting new highs, he said.

According to Mehta, the best way to play aviation space is to take a leap of faith and buy SpiceJet or Interglobe Aviation and then forget them for couple of years. The space witnesses high degree of volatility and too many variables at play.

However, if one were to look at underlying fundamentals of these stocks and being in the consumption space, one cannot ignore passenger traffic growth, other players are weak and so scope to increase market share. Moreover, both are also looking to increase a fleet size. A small portion can be put in this space with a two-three year view, said Mehta.

State-run NTPC, he said, has not performed in the bull market and is under owned. So could see some short covering or opportunistic buying in the stock but one is not sure why the stock is going up, post its poor performance several years, he added.

First Published:Jun 22, 2018 4:29 PM IST