Quote on Nifty PSU Banks: PSU banks were trading at an inexpensive valuation for a long time Says Ajit Kabi,LKP Securities
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Quote on Nifty PSU Banks up by 26% in 1 month By Ajit Kabi, Banking Analyst at LKP Securities
"PSU banks were trading at an inexpensive valuation for a long time. The lower growth capital and legacy NPAs were the reason for underperformance. However, the concern of asset quality and growth are way behind. The large public banks have delivered strong growth and improvement in credit quality. Therefore, PSU banks are likely to perform well in mid-run. Bank of Baroda, Canara Bank are top picks in PSU space."
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