Buy Reliance Capital and IDFC: Ambareesh Baliga

Ambareesh Baliga, VP, Karvy Stock Broking Ltd.in a chat with ET Now talks about NBFC, Relaince Capital and IDFC.

The other pack which showed a bit of spunk on Friday was the NBFC pack what with that NBFC standing a chance to getting bank licences as well what do you make of it and would you buy a Reliance Capital, IFCI or IDFC based on the news at current prices after the run up?

Surely among these I would look at Reliance Capital where again we are not been too bullish for long but because of this private banking licence issue one can turn slightly bullish on Reliance Capital. IDFC is one of those companies which you have been recommending for a while basically based on the fact that in future whenever banking licences opened this would be one of them which could get it. They stand a fair chance because of this development in the budget. Other than that other groups which one should look at is Larsen & Toubro as well as Aditya Birla Group.