Stock market guru, SP Tulsian, on Wednesday said he continues to maintain positive stance on private lender Yes Bank for long-term.
Speaking about the fresh round of selling in Rural Electrification Corporation (REC) and Power Finance Corporation (PFC), Tulsian said, "Maybe both the companies were the victim of merger, which is speculated by the market."
"The worst part is that REC is seen taking over PFC in spite of latter having higher government of India stake and higher market capitalisation. However, maybe government wants to mop up more of its money on the model of HPCL-ONGC move," he added.
Tulsian said there is a synergy existing between the merger of REC and PFC, but market is getting bit nervous thinking that swap ratio may be detrimental to the interest of the shareholders.
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