Dena Bank a good long term bet, says PN Vijay

Dena Bank is a good long term bet, says PN Vijay, Portfolio Manager, askpnvijay.com.

Vijay told CNBC-TV18, “Dena Bank has been along favorite of mine and if you looked at the earnings carefully they have been hurt but not injured as the saying goes. A Central Bank has to do a lot more of homework before it will come ever into anybody’s buying list.”
He further added, “Canara Bank, sometimes it’s good in parts, sometimes it’s really bad. In the pack that displayed their results, OBC was very good and it stood out. But in the pack that declared today, Dena bank is a strong stock and it goes up quite slowly but it is normally in very heavy hands so we don’t see much selling. So among the three I would go for Dena Bank as a long-term buy. Sometime one needs to get out of this highly valued, highly talked about, highly rated private sector banks which are quoting at astronomical numbers and move into value buying. When that happens is a million dollar question.”