Deven Choksey, managing director of KR Choksey Investment Managers, on Wednesday said he is positive on Bajaj Finance.

On Bajaj Finance, he said, “I like the fundamentals of the company. The way in which they have managed their risk by structural way of lending, that typical lending is for short term and as a result of which I think the chances of creating the NPA in the books remains always on a lower side. At the same time, faster the cycle, better the yield as we see it in this particular company’s case. So, to a greater extent, I am fully convinced about the business model.

"Current fall in the market could also largely be due to the unwinding due to the derivative market expiry, etc. I think that should give you an opportunity at lower levels. Remember this stock is always premium traded and this is when you get the opportunity. For some technical reason, if the stock gets corrected, you start getting it at a little discount to the premium trading that it has been assuming all along. I guess that is an opportunity to use it. So certainly, I think the opportunity would be to buy into the corrective downside," he added.

Choksey said, “Some of the midcap stocks in the IT space are finding favour. I am not particularly very sure about NIIT Technologies. However, some of the other IT companies I definitely find demand consideration in the portfolio given the kind of a fall in likes of Tata Elxsi where the fundamentals are relatively strong and the stock has corrected significantly as far as in-the-price is concerned. So, from that perspective, there is a buying emerging in some of these stocks in the marketplace."

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