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

It is positive not just for Reliance Capital but almost all insurance conglomerates, says P Phani Sekhar.

It is a conviction call and what matters in PFC more is the asset quality because that had started deteriorating in the last "one year."

"We are constructive because I believe that initial bout of correction is over. Now the market largely would be stock specific."

SBI continues to be disturbing and as far as other results such as Marico in midcap FMCG is concerned there again results have been excepti...

They have already been re-rated a lot so I guess there is little scope at least in the longer term perspective for that to happen

"I am not too surprised with the fall of the last two days."

L&T is more based on the recent order book growth that they have shown and that again is not coming much from cap goods.

Wipro can be avoided because its in a transition phase and valuations are clearly expensive.

The numbers are okay considering the overall micro environment in which they are operating but they are not at all good.

Stocks such as Power Grid and NTPC look very attractive.

The response to the issue was not at all good irrespective of management holding out promises of great future, says Phani Sekhar.

I would be bit hesitant to take an investment call in power stocks. Therefore, for the moment -- safely stay away from this.

We continue to like larger private sector banks, so Axis Bank is something that we continue to buy on all declines.

The valuations look attractive, but I would not like to enter it at this point in time.

Till there is some price action on the ground post May 22nd, I do not see any medium term respite for HP, BP or IOC.

Suzlon is a classic case where there is still no clarity on the incremental new order inflows that will keep the company going for the next...