According to SP Tulsian of sptulsian.com, Allahabad Bank looks a better buy from a one week perspective.
Tulsian told CNBC-TV18, “I am quite positive on the cement space and that has been reflected from a small upmove in ACC and Ambuja Cements. So I have chosen Century Textiles, which is again cement and real estate play and that again looks to have bottomed out. I see a recovery of five-six percent in one week or so.”
“The last stock which I look to buy is Allahabad Bank. Because amongst the midcap PSU banking stocks, since I am keeping my positive stance on Bank Nifty and midcap PSU banking stocks having battered and having settled, two stocks came in to my mind that is Allahabad Bank and Syndicate Bank. But I think that Allahabad Bank looks a better buy from a one week perspective, Tulsian added.
Allahabad Bank gained 1.79 percent to close at Rs 147.70 on Bombay Stock Exchange on Friday. In last one month, the stock tanked nearly 21 percent.