Bajaj Holdings a great long term buy: Jagdish Malkani

ET Now spoke to Jagdish Malkani, Member NSE, for his views on Bajaj Holdings.

Bajaj Holdings, why in particular do you like this company?

Bajaj Holdings has been a long term favourite. It's a great play, it's a proxy for few great companies. It is the holding company of the Bajaj Group. It owns 32% nearly of Bajaj Auto. It owns 36% of Bajaj Finserv, less than 2% of ICICI, and a host of other companies and fixed income etc.

Now, yesterday they came out with the set of numbers where the profits are ostensibly down but one must understand I feel, to believe it is just relatively intelligent market. It's not surprised down by about 3% or 4% because of the numbers but for a holding company it means nothing. It's like what stocks you sell from your portfolio for that quarter.

One really has to look at the NAV or the value of the portfolio and in this case its over 18000 crore which comes to Rs1750 a share even after recent payout of Rs30. So you are getting it at Rs700 which is less than 40% that's for a yield of over 4% so according to me it's a great long term buy.