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SENSEX
NIFTY 50
NIFTY MIDCAP 100
S&P BSE MIDCAP
Hang Seng
Taiwan Weighted
DAX
Nasdaq
MCX GOLD FEB 05
MCX SILVER MAR 05
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These NSE stocks hit their 52-week highs or lows on December 13

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Market

Yes Bank not a stock for long-term investors, says Ajay Srivastava of Dimensions

Updated : November 05, 2019 12:13 PM IST

Yes Bank is a speculative stock and not an investor stock, said Ajay Srivastava, CEO, Dimensions Corporate Finance Services, adding "I will not risk my capital on a CEO who has not run a commercial bank in the country by and large. I will not buy it.”

On Rakesh Jhunjhunwala picking 0.5 percent equity in Yes Bank, he said, "There will be a fan club of the big bull which will follow him no matter where he goes and so buying may happen in the stock.”

According to Srivastava, the positive sentiment in the market is more because of global factors than domestic. Most global markets are at historic highs, liquidity is abundant, and risks are down, he added.

Srivastava said the concentrated buying on heavy discount seen during the festive season may not continue forever. “Fundamentally, liquidity can take a rally up to so far and one month cannot make the summer,” he said, adding the house has not been very positive on autos but it worked well.

When asked if there is a bubble in select stocks like Bajaj Finance, Kotak Mahindra, HDFC Bank, he said, “These stocks are safeguarded by the fact that big selling is unlikely to happen and even if it happens, it will be bought into by people who are not into these stocks."

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