Valuation not cheap for M&M Financials: P Phani Sekhar, Angel Broking

In a chat with ET Now, P Phani Sekhar, Fund Manager-PMS, Angel Broking, shares his views on M&M Financial.

ET Now: What is your call on M&M Financial?

P Phani Sekhar: Assuming that everything is operational, it is a fantastic set of numbers. And primarily, if you look at the kind of spaces that M&M Financial now maintain, which is mainly relative to rural agri financing and considering that the things are not going really well in that space, it is a fantastic set of numbers that they have posted. But one has to look at the outlook going forward in the next two to three quarters for M&M Financials because the stock is really not cheap.