Deepak Shenoy, founder of Capitalmind.in, on Monday said he is positive on IndusInd Bank and Reliance Industries Ltd (RIL).

In an interview to CNBC-TV18, Shenoy said he was not very surprised by the IndusInd Bank results, "Good thing about IndusInd Bank is that it has two acquisitions coming up. First, they are buying out IL&FS securities arm, IL&FS Securities Services (ISSL). Second, the Bharat Financial merger will give the bank more scope going forward."

On RIL, Shenoy said, "The kind of results they have shown on both retail and Jio are quite encouraging. You do not want to deal with RIL on short term basis as refining is an ebbing field. The real businesses here are petrochemicals, Jio, and the retail business. So, I think there is substantial value there in the longer term."

"I would be hesitant to sell the stock unless one is a short term trader. For the long term, this still looks like a very interesting point for it. It's not cheap, but many of the stocks in this sector are 4-5 times more expensive,” he added.

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