DCB can move to Rs 47-48: SP Tulsian

DCB can move to Rs 47-48, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, “DCB, net interest margin (NIM) is better, the asset quality is better. They have reported reduction in the gross non-performing assets (NPA), the net NPA has remained constant, but the problem with this private sector banks largely like DCB, Dhanlaxmi Bank they are all stuck in a range because now there are no talks of any kind of Mergers and Acquisitions (M&A) happening unless and until we again see some development of the renewal of interest coming in on the banking licence theme.”
He further added, “Till then I don’t think that really the stock can have any kind of fervour, maybe the stock can move to Rs 47-48, but not beyond those levels and that too the things are looking quite difficult. So, I don’t think that there is any point, but yes, somebody wants to play for a couple of rupees gain with one week horizon they can look to go long in the stock.”