Oriental Bank good bet among mid-cap PSU banking stocks: Deepak Mohoni

Posted by observer | Posted in Wealth Management | Posted on 02-09-2010-05-2008

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In a chat with ET Now,Deepak Mohoni, Director, trendwatchindia, share his views on Mid-cap PSU banks.

Mid-cap PSU banking, forget the SBI trio but the other ones, they have not done too bad today. Anything that you like here?

There is a clear revival but not a lot of stocks are closing too strong and banks have that big run-up already and they correct it, so it may be but the odds will be a little bit against all of them going up once again as a pack soaring onto new highs. So this will be more of a select bank stock and not going up at that same pace we saw earlier.

Today’s move is more of a reflection of the fact that until yesterday they were in a decline, the correction is probably over now for the banks and they have announced it with these moves. If you look at the banks today not many closing around their highs, Oriental Bank is one of them, which has made a good move.

UCO Bank has made a decent move but otherwise it is quite a mixed bag and if you go to private banks, last half an hour or so ICICI has been moving up quite steadily, so we have got about half the banks or may be a quarter of the banks going up as the day finishes.

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