IDFC sees potential of 30-40% upside in 6-9 months: Devang Mehta

In a chat with ET Now, Devang Mehta of Anand Rathi Securities shares his views on non-banking financial sector.

ET Now: Do you have any top midcap recommendations that have the potential to be multi-baggers?

Devang Mehta: It is time that one stays more in the largecap space and may be in the large size midcap space rather than hunting for multibaggers. If there is any problem post election, then that part of the market would be hammered. We still feel that it is time one becomes cautious and also stays in quality names.

For example, IDFC has a potential of 30-40% upside from here in another six or nine months. So, stock like IDFC, REC, and NBFCs are a good buy.

M&M Financial had made an all time high of around 330-340 levels and fallen down to 240-250 levels and it is again around 275 levels. We feel that there is a substantial upside for this stock. I will be more on the NBFC side in terms of midcaps where there is good value creation left.