'BFSI space looks attractive,' says expert; shares views on Paytm, Hindustan Zinc & Hindustan Copper
"The entire BFSI space looks pretty attractive to us, but you have to be at least having a horizon of six to nine months out there because the public sector banking space has moved up a lot," the market expert told Business Today.
- Nov 25, 2025,
- Updated Nov 25, 2025 1:53 PM IST
Dharmesh Kant, Head of Equity Research at Cholamandalam Securities, on Tuesday said the BFSI (Banking, Financial Services and Insurance) space continues to look favourable for investors, provided they maintain a medium-term horizon. "The entire BFSI space looks pretty attractive to us, but you have to be at least having a horizon of six to nine months out there because the public sector banking space has moved up a lot," he told Business Today.
Kant added that further re-rating in banks could unfold as the market approaches FY27. "I think a lot more is due as far as re-rating of these banks is concerned, which will actually happen as we move into the next financial year (FY27). The public, private and NBFC spaces are looking good. For us, the top counters in the public sector banking space have always been Bank of India (BoI), followed by SBI. In the private sector banking space, we have liked Axis Bank for some time," he said.
Sharing his view on the metal segment, Kant said the firm prefers a basket of steel and aluminium players. "We have been recommending a basket of plays like JSW Steel, Jindal Steel Ltd, along with the Hindalco Industries Ltd and a mix of Vedanta Ltd into it. What we are avoiding as of now are Hindustan Zinc Ltd and Hindustan Copper Ltd," he said.
Kant also commented on the Adani Group, noting that ports remain the most stable business within the conglomerate. "The only one business which is very stable and doing fairly well for you know the last decade has been the Adani Ports and SEZ business. We have always liked Adani Ports and that is where I mean the advice would be to get invested in," he said.
On the fintech space, he said, One 97 Communications Ltd, the parent of Paytm, is showing improvement. "Paytm is definitely looking much better on the newest companies which have been there. And, with the earnings picking up, the company has got its act together. We don't have a formal recommendation on it but it definitely looks promising on the cards," he added.
Dharmesh Kant, Head of Equity Research at Cholamandalam Securities, on Tuesday said the BFSI (Banking, Financial Services and Insurance) space continues to look favourable for investors, provided they maintain a medium-term horizon. "The entire BFSI space looks pretty attractive to us, but you have to be at least having a horizon of six to nine months out there because the public sector banking space has moved up a lot," he told Business Today.
Kant added that further re-rating in banks could unfold as the market approaches FY27. "I think a lot more is due as far as re-rating of these banks is concerned, which will actually happen as we move into the next financial year (FY27). The public, private and NBFC spaces are looking good. For us, the top counters in the public sector banking space have always been Bank of India (BoI), followed by SBI. In the private sector banking space, we have liked Axis Bank for some time," he said.
Sharing his view on the metal segment, Kant said the firm prefers a basket of steel and aluminium players. "We have been recommending a basket of plays like JSW Steel, Jindal Steel Ltd, along with the Hindalco Industries Ltd and a mix of Vedanta Ltd into it. What we are avoiding as of now are Hindustan Zinc Ltd and Hindustan Copper Ltd," he said.
Kant also commented on the Adani Group, noting that ports remain the most stable business within the conglomerate. "The only one business which is very stable and doing fairly well for you know the last decade has been the Adani Ports and SEZ business. We have always liked Adani Ports and that is where I mean the advice would be to get invested in," he said.
On the fintech space, he said, One 97 Communications Ltd, the parent of Paytm, is showing improvement. "Paytm is definitely looking much better on the newest companies which have been there. And, with the earnings picking up, the company has got its act together. We don't have a formal recommendation on it but it definitely looks promising on the cards," he added.