SBI, Allahabad Bank, Yes Bank may rise 5-10%: SP Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, "Yesterday we have seen some interest coming back into smaller banks like Allahabad Bank, Union Bank. But today practically all banks, whether you take larger banks like State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda (BOB), Bank of India (BOI) and Canara Bank and in the private sector banks which have got a hit because of the wholesale banking like Yes Bank, Axis Bank, IndusInd Bank, ICICI Bank rallied."

"Even the mid-sized banks, I am not talking of the banks like Indian Bank, Punjab & Sind Bank where there is a very low trading fervor, but Allahabad Bank, Dena Bank, Indian Overseas Bank (IOB) and UCO Bank gained," he said.
Tulsian further said, "You have to look for all these 15-20 banks which in my view should rise maybe by about 5-10 percent because we have been seeing a lot of shorts in the system of all these banking stocks. This news flow of the RBI, the policy changes for booking the mark-to-market losses (MTM) will definitely be positive for all of them."