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Market expert SP Tulsian bullish on 4 corporate lending banks

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Stock market expert SP Tulsian of sptulsian.com on Friday said he is bullish on SBI, Axis, ICICI Bank and IndusInd Bank.

Stock market expert SP Tulsian of sptulsian.com on Friday said he is bullish on SBI, Axis, ICICI Bank and IndusInd Bank.
Talking about banks, he said, “HDFC Limited corrected by about Rs 65 in the last couple of days. HDFC Bank has been hovering on Rs 1,300 and Kotak Mahindra is also at Rs 1,700. So I don’t think there is much juice left in these three stocks."
"One can take a call on larger PSU Banks in the same pecking order. State Bank of India (SBI), Bank of Baroda, Canara Bank and Punjab National Bank. SBI looks to be the safest and the best stock from a portfolio point of view. However, if to widen the horizon, then the smaller PSU banks do give the good high beta play, good up move. But I don’t think they are comforting stocks from an investment point of view," he added.
On the metal sector front, Tulsian said, “We have been giving buy call on SAIL and JSW Steel. For an individual reason, avoid Tata Steel and Jindal Steel and Power Ltd (JSPL). In the case of JSPL, Gare Palma coal blocks have not been allotted. For Tata Steel, Europe concerns and there were news reports that the restructuring will be done with Indian operations of Tata Steel getting hived off, but those will not sever the purpose. So purely on a fundamental basis in the ferrous metal space, we take a buy call on SAIL and JSW Steel but not across the board on all the stocks."
"In the smaller stocks, look for Sarda Energy. The share is ruling at a PE multiple of 3-3.5 based on FY20 estimated EPS and apart from this stock there is Mukand, Sunflag Iron and Steel Company. However, we will largely be focusing more on the large-cap stocks like SAIL and JSW Steel,” he further added.