Buy Karnataka Bank, says SP Tulsian

Buy Karnataka Bank, says SP Tulsian of sptulsian.com.

Tulsian told CNBC-TV18, "Karnataka Bank is probably the cheapest bank in the private sector banking space. If I first take a call on price to book it is at 0.55. The financial performance has not been bad because on the absolute number for first half, the bank has posted a PAT of about Rs 91 crore which was at Rs 75 crore on the corresponding quarter of the previous year. But because of some equity dilution close to about Rs 190 crore the EPS is slightly lower at Rs 4.85 for first half against Rs 5.50 for the same period last year."

He further added, "Taking an overall call, I think this looks to be good valuation that takes any bank having 478 branches, about 250 ATMs and if you see the overall financial performance, I don