PSU banks look safer: Agarwal
Published on Wednesday, October 1st, 2008 at 6:19 AMAuthor: admin (5507 Articles)
Dhiraj Agarwal, Independent Market Analyst feels that public sector banking lot is looking safer bet at this point in time.
“I still think public sector banking lot looks safer bet at this point in time although for a bounce you might play private sector. The public sector benefits from the basic fundamental situations; they don’t have too much of an outstanding retail book, they don’t have too much of global exposure, they don’t have too much of real estate exposure. So these would continue to benefit as the inflation inches down over a period of time, which is bound to happen as global economy slows and commodity prices cool off.”
He further added, “I am more comfortable with PSU banks because they look good not just from a short-term rally perspective but they also look good from a medium-term and long-term perspective. So you can hold them and live through some amount of volatility whereas livings through the kind of volatility private banks are seeing at this point in time at least to me is pretty unnerving.”
Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.
Source : MoneyControl
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