Finolex is good investment : Deven Choksey

In a chat with ET Now,Deven Choksey, MD, KR Choksey Securities, shares his views on expectaions from Finolex Cables.
ET NOW: Do you track Finolex Cables, it is a company that is getting a lot of coverage of late, do you like it?

Deven Choksey: Yes. We have been holding this stock in our portfolio as well and we have coverage too. The company if one wants to should wait for the details to come out. Up till now this company was troubled with the forex losses and it was weighting down the profits of the company. This was the way back in 2008-2009 period in which they suffered this particular situation but thereafter it has been written down over a period of next three years or so.

Now, this year onwards, you are likely to see the clean balance sheet coming out and that where one could probably argue for the better profits in the profitability going forward in this company. I would like to see the details first before making this observation or validation on this observation but the fact remains that from the business point of view the company is shaping out very well from current levels. Even in the power cable segment business also, things could possibly start looking up for the company given the kind of clearances that they are talking about. It would be a good investment going forward as well though the stock has ran up but at the same time, this company holds potential so one will have to look for the opportunities at lower levels.