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2019 could be the year of PSU banks, says Ambareesh Baliga

Updated : January 17, 2019 06:23 AM IST

In an interview to CNBC-TV18, Ambareesh Baliga, an independent market expert spoke about the fundamentals of the market. He also shared his views on specific stocks and sectors.

On DCB Bank, Baliga said, “The bank has surprised negatively in the recent past if you are talking the last two or three quarters. So, I think people will really go through these results with a magnifying glass before really taking a face value. Looking at the sort of asset quality deterioration to a certain extent, we should see a bit of a correction. However, for this stock to actually breakout from this range, it will require consistently good results at least for two or three quarters which is still some time away.”

Baliga said, 2019 possibly could be the year of the PSU (Public Sector Undertaking) banks.

"I think this is just the beginning of that move. Whether we are talking of Bank of Baroda or whether it is Oriental Bank of Commerce which has moved up from those Rs 70 to Rs 100, State Bank of India (SBI) has gone beyond Rs 300, Punjab National Bank (PNB) has just crossed that Rs 83-84 levels and I think it should be moving more towards Rs 98-100 levels decently soon. So, I think it is still time to remain invested in PSU banks as well as possibly buy slightly more at these levels because if you are talking of the next five to six months, I think we should see a decent move from here,” Baliga added.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
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