Positive on auto, financial services and fast-moving consumer goods (FMCG) space, said Sampath Reddy, chief investment officer, Bajaj Allianz Life Insurance.

In an interview to CNBC-TV18, Reddy said that general and life insurance and asset management companies are good businesses, "The penetration level is very low in India and most of the private players are relatively recent entrants into this space and I think they have a very long potential to grow."

Reddy said that house liked both auto and FMCG sectors, even though valuations are slightly on the higher side.

"Within the auto, we like passenger cars, two- wheelers and commercial vehicles also. Apart from that, a few auto ancillaries also we like. Even for tyre sector, the valuations are very attractive and given the very good brands and good cash flows in this sector, I think we have been liking that space also," he added.

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First Published:Jul 27, 2018 5:09 PM IST