Motilal Oswal Asset Management continues to remain positive on Mahanagar Gas Ltd, said Manish Sonthalia.

Speaking to CNBC-TV18, he said, Mahanagar Gas' volume growth story remains good and return on equity is around 30%. So the size of opportunity is still good.

Talking about the pharmaceutical space, Sonthalia said the generic price erosion in United States is coming off.

On the domestic side, he said there is a Drug Price Control Orders (DPCO) overhang on the branded formulation companies.

According to Sonthalia, crude is off its highs and won’t go up in hurry, so bearish on oil prices from mid-term perspective.

With regards to AU Small Finance, he said it depends on how the bank able to execute growth and what risk and the return on asset delivered will matter the most.

Private sector banks is where opportunities are and this bank is in that space and so will gain at expense of state owned banks, he added.

Disclaimer: Motilal Oswal is the launch partner of CNBC-TV18.