Bet on insurance because that is where big money lies: Rajen Shah, Angel Broking

In a chat with ET Now, Rajen Shah, Chief Investment Officer, Angel Broking, shares his views on banking and insurance setors.

ET Now: What are your thoughts on PSU banks?

Rajen Shah: There is no doubt that PSU banking stocks have come down to very compelling levels. Companies like SBI has come down from 3500 to 1800. So, certainly all of them are looking very compelling but we do not own any banking stocks in our fund.

We are extremely bullish on business which is related to banking and that is insurance. Insurance is at the same place where mobile telephony business was about 10 years back. The market is huge, the potential is huge, the opportunity is great and these companies are going to do excellent.

So, we continue to like Aditya Birla Nuvo, Max India and Bajaj Finserv. We own Aditya Birla Nuvo in our PMS. We see a tremendous growth opportunity in this business and all these companies are now set to grow exponentially in this business. So rather than banking, I bet on insurance because that is where the big money lies.