No wrong in holding financials that too the ones you are holding. Issue is the skewed allocation which might hurt when there is any sector specific events. With Bajaj Finance, it is 10 stocks out of 16 stocks and possibly ~65% PF weightage to financials. Please post your stock wise allocation of your PF for better understanding.
I feel you need not even sell any of your finance stocks now if you are in stock accumulation/PF building stage. You may just add to other stocks in different sectors.
- Food based FMCG companies: Britannia, Nestle
- Non food based FMCG cos: HUL, Procter and Gamble
- Food and non food based FMCG cos: Dabur, ITC
- QSR: Jubilant Foodworks, Tata Global Beverages
- Consumption: Titan, Page, Relaxo Footwear
- Chemicals and allied cos: Pidilite, Asian Paints, PI Industries
- Automotive allied cos: MRF, Exide, Wabco, Minda
- Healthcare related: Thyrocare, Dr Lal Pathlabs, Poly Medicure
- Manpower based: Quess, Teamlease
- Travel and leisure: Thomas Cook, Wonderla
I feel it is a bet on India and the wonderful story that might play out over next couple of decades. Of course the above list is an indication only that we can build a robust PF across sectors which might do well across all cycles. You have to do due diligence before acting.