Dipan Mehta underweight on PSU banks

Dipan Mehta, Member at BSE & NSE is underweight on PSU banks.

Dipan Mehta, Member at BSE & NSE told CNBC-TV18, "We continue to remain extremely underweight on PSU banks. However if any one bank one had to buy in the PSU sector then that would be State Bank of India . It is more because the quarterly numbers for September are quite interesting and impressive. It does appear that the bank has turned around the corner on several of its various data points that we watch, that being NPA, credit growth and trading profits from treasuries. With the interest rates going down I think PSU banks will benefit and SBI amongst them also will benefit in terms of notional as well as actual gains booked in treasuries. However on the whole underweight in PSUs."

State Bank of India ended at Rs 313.95, up Rs 2.10, or 0.67 percent on the BSE.

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