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Apr 30, 2012, 02.50 PM IST
Rajesh Agarwal, Head of Research, Eastern Financiers Limited is of the view that one can stay invested in Bank of India.
Rajesh Agarwal, Head of Research, Eastern Financiers Limited is of the view that one can stay invested in Bank of India .
Agarwal told CNBC-TV18, “One can continue holding Bank of India and for new purchase I would say wait for some dips because the restructured loans have been a sore point in the good set of numbers and that’s going to take a effect on the current market price. Once investor realized that the structured loans have gone up by around 25%, there might be a bout of profit booking. But that would be an opportunity to invest in Bank of India, because going forward we believe that PSU banks as such are going to outperform the entire market as such, because lot of them have seen quite a beating from their 52-week highs and all of them are quoting at around 5 times, 6 times PE, one times price to adjusted book value. Even dividend yields are good. So I think one can stay put and be invested in the stock.”
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