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Vibhav Kapoor of IL&FS Investmart is of the view that there could still be a 15-20% upside in PSU banks which are trading below one time book value.

“Midcaps banks for example, the PSU banks, there are still some banks which are trading at 0.7 or 0.8 times adjusted book value of FY10. If your theme is that corporate India is going to do very well, going forward they obviously, why should a good PSU bank trade below one time book value. I do not see any reason for that, so there could still be a 15-20% upside in some of them which are trading below one time book value.”

He further added, “There are some of the infrastructure companies where they have run up a little bit. But one could still have 10-15% gains in construction companies like Nagarjuna Construction, Hindustan Construction and so on and so forth. We like that space also.”

“There could be some upside in the real estate midcap companies. But there fundamentally, we are not very comfortable because they still have very large debt on the balance sheets. But if one see some restructuring happening in some of these midcaps real estate companies there could also provide a good upside.”

Source : MoneyControl

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