Deven Choksey, Managing Director of DRChoksey Finserv, sees opportunities across engineering R&D and sugar stocks, while remaining cautious on credit card companies and businesses sensitive to oil price movements.

In comments on CNBC-TV18's market coverage, Choksey said he expects a recovery in margins at Cyient, the Indian engineering and technology services company, while flagging concerns about shifting consumer borrowing patterns that could weigh on credit card issuers such as SBI Cards. Cyient operates in the engineering research and development (ER&D) services space, a segment where Indian IT firms design products and platforms for global clients in industries such as aerospace, transportation, and energy. He also indicated caution toward oil-sensitive stocks given volatility in crude prices, a consideration relevant in India, which imports the bulk of its crude oil requirements, making corporate earnings in sectors such as aviation, paints, and tires sensitive to global price swings.

SBI Cards, one of India's largest pure-play credit card issuers, has been watched by market participants for trends in customer spending and repayment behavior, factors that directly affect lenders' asset quality and provisioning.

At the same time, he pointed to engineering R&D services and the sugar sector as areas where he sees potential opportunities, alongside his positive view of Welspun Corp, the large-diameter pipe manufacturer. Welspun Corp supplies pipes used in oil and gas transmission and water infrastructure projects, tying its business prospects to global energy capex cycles.

Choksey's remarks reflect broader attention among Indian market participants to consumer credit trends and global oil price movements, both of which can affect corporate earnings and sector performance.

DRChoksey Finserv is a Mumbai-based financial services firm, and Choksey is a frequent commentator on Indian equity markets.

Source: CNBC-TV18