Liquidity, policy moves to drive mkts ahead: PN Vijay

Q: Would stay out of the small public sector banks because they had a fall and they have recovered? Is that a space you would not want to be in for the moment - the likes of Dena Bank , Allahabad Bank etc?

A: You are right because there is certain unpredictability even for example Bank of India . But having said that, we are quite bullish on Bank of Baroda and Punjab National Bank (PNB) within our bank allocation and increasingly so, on Central Bank of India because whatever one is hearing, Central Bank is reinventing itself. You would recollect that in 1969 when banks were nationalised it was the biggest bank after State Bank of India and I think it is getting into very aggressive mode, so there could be opportunities in Central Bank, which may soon get counted along with PNB, Bank of Baroda and the likes. If we want to go for small, we would go for small private sector banks.

Q: Any thoughts on media space and what you would prefer right now between print and television?

A: There could again be a game change in 2010 in this space because if people work on the assumption, there are going to be fairly good reforms next year from this government. Areas like media, civil aviation are much easier to touch than multi brand retail or areas like that. Media has been stifled by regulation. In this country promote a separate company for everything that you do in media and we have shown that in the last ten years media is one of the best in the world, very independent, very proactive etc. So there is a strong case and clearly the move is towards television.  I think the print is just too late and internet is disintermediating print totally. So I think the big moves definitely will be in television media.