Sep 10, 2013, 05.50 PM | Source: CNBC-TV18
Rajesh Agarwal, Head of Research at Eastern Financiers Limited suggests switching from Muthoot Finance to some of the PSU banks like Andhra Bank, Dena Bank and Syndicate Bank.
Rajesh Agarwal (more)
, Aum Capital | Capital Expertise: Equity - Fundamental
He further added, "On valuation parameter it is trading at a PE of around 6. We get a lot of PSU banks which are trading at a PE of less than 4-5, so it is better to switch from Muthoot Finance to some PSU banking stocks like Andhra Bank , Dena Bank , Syndicate Bank which are trading at a valuation which is much lower than Muthoot Finance. They give good dividends and even business model if one compares banking stocks with Muthoot Finance - it is far better. I would suggest a switch from Muthoot Finance to some of the PSU banks."
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