UCO Bank, BoB, Canara Bank may slip further: Merani

Nooresh Merani, AMSEC Research is of the view that UCO Bank, Bank of Baroda,  Canara Bank may slip further.

Merani told CNBC-TV18, “UCO Bank can expect some recovery over the next few months. So at current levels it would not be a sell and dips from hereon could actually be a point to average. So maybe another 10-15% cut into the stock, one can average into the stock.” He further added, “On the PSU banks the only banks which look interesting are the larger ones because they have already dropped a lot and are below December-January lows. So a couple of them which are interesting is basically looking into Bank of Baroda and a further crack on Canara Bank. So these would be the two best bets in the PSU banking segment. But one should be able to digest another 5-10% cut from current levels.”