Stock expert SP Tulsian positive on these bank stocks
Stock market expert SP Tulsian on Tuesday said he was extremely positive on Axis Bank, ICICI Bank and SBI. He, however, said that one should keep a pause on buying HDFC Bank and Kotak Bank.
“SBI falls on top of all three because once SBI Card gets listed then one will see good value accretion happening and all along post Q3 numbers we have seen SBI in accumulation. We have given a target of Rs 375 by end of May and we stick to that target of Rs 375 for SBI,” he added.
On India Cement:
Tulsian said: “Radhakishan Damani (HNI) is already holding about 4.5 percent stake in the company, if I am not wrong going by the shareholding pattern and seen further raising the stake in the company."
"So that could only be the reason for a rise in India Cement because EV per tonne is seen to be low but a good tailwind for the sector in terms of volume growth and pricing power and both will be seen giving them operating leverage because of higher capacity utilization."
"So, we are keeping extremely positive view but specifically on India Cement rally, I can only attribute to buying by the HNI raising his stake in the company.”
On IRB Infrastructure Developers:
He said: “Look for a level between Rs 85 and Rs 90 and their engineering, procurement and construction (EPC) business seems to be consistent and on toll front things are not seen to be as bad."
"So if one gets the share at Rs 90 then on valuation parameter also the share is looking cheap maybe on a PE multiple of 6 or 7. So taking that into consideration no need to ride or chase the momentum but at Rs 90 it makes a good buy.”
First Published: Feb 25, 2020 3:58 PM IST
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