Latest development in the banking sector shows that mergers can happen a little earlier than what would have been otherwise planned, said Anish Damania, CEO & head - Institutional Equities at IDFC Securities.
He said merger is coming by way of necessity rather than a design.
Six more state-run banks, including Punjab National Bank, Union Bank of India and Syndicate Bank, are at risk of entering the Reserve Bank of India’s (RBI) prompt corrective action (PCA) framework, according to a report.
On Sun Pharma, Damania said that Halol facility is priced in at this point of time and the critical area to look at is about its speciality chemicals, pharma and how the company scale up on it.
Damania also believes that Avenue Supermarts has not disappointed on growth. It is a low floating stock, high valuation is because of scarcity in the stock, he said.
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