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MODERATOR:
Hello and welcome to the web chat with Rahul Shah, VP- Equity Advisory, Motilal Oswal Securities on whether it is a good time to buy bank stocks.
RAHUL SHAH:
Hello!
APURV
Is it a good time to buy bank stocks since Nifty bank is down by 2% or should I wait to buy?
RAHUL SHAH
I believe there is lot of pessimism in banking sector. Best time is to buy stocks when everybody has concern on the sector. My view just buy it
G N MATTOO
Is it a good time to buy shares of Canara bank?
RAHUL SHAH
I believe in PSU space Indian bank and sbi are my preference.
RASHI
According to you, will the Gyan Sangam outcome change the outlook for PSU banks? Which your favourite picks from this space?
RAHUL SHAH
SBI AND INDIAN BANK
VARUN
SBI has rebounded 20% in the last week's rally. Are valuations attractive at current levels for a three-year investment horizon?
RAHUL SHAH
Yes i feel buy SBI from current levels
MOHAN
Punjab National Bank has been under pressure after the bank declared a list of over 900 wilful defaulters. The stock is now trading at sub-100 levels. What is your take on the stock at current levels?
RAHUL SHAH
my preference in PSU space . in large cap SBI and and midsize Indian bank
SARIN
ICICI Bank has recovered after dipping below Rs 200/- level. Will the concerns over NPAs continue to be a overhang for the private banking major? What is your call on the stock at current levels?
RAHUL SHAH
Overall retail franchise, margins and asset quality performance remains strong. While secured retail loan growth remains strong, outlook/risk appetite is improving for unsecured retail and SME loans. stock price has already incorporated the worst scenario. • Valuations are attractive at AP/ABV of 1.3x (FY17E). Very bullish in ICICI
PRIYANKA
Sharp and sudden spike in bad loans have impacted the earnings substantially.With RBI’s intent to clean up the banking sector, do you think the health of Indian banks will be restored? Which stocks are your picks for long term investment?
RAHUL SHAH
RBI is doing a good job for the longer term health of banking sector. My top picks in Private sector ICICI and AXIS . PSU space SBI an INDIAN BANK
DEEPAK
Post Budget, most of the PSU banks have rallied more than 10%. Nifty PSU Banks outperformed the market by gaining 14% as compared to 7% rise in Nifty 50 and 9% gain in Nifty Bank index. What is view going forward and your top picks?
RAHUL SHAH
Markets will continue to do well . I believe Equity will be the best avenue of investment for next three years. There is lot of pessimism , that's the best time to allocate more funds. In Banking sector i prefer Icici , axis, sbi
AADITRI
The government has been pushing for consolidation of public sector banks (PSBs) to merge small and weak banks with large ones. Do you think the idea to bring the number of PSBs down to six or seven strong players would work out?
RAHUL SHAH
Yes
MICKEY
Are there any banking stocks that could be multi-baggers in 2016? Do you think private banks are a good buy at this stage?
RAHUL SHAH
ICIC BANK, AXIS , SBI INDIAN BANK