Buy Union Bank: Prabhudas Lilladher

Buy Union Bank, says Abhijeet Mazumdar, Prabhudas Lilladher.

Mazumdar told CNBC-TV18, "We have been pretty positive on Union Bank. The pain for one more quarter would be there in terms of slippages and prohibitions."
He further added, "I think for most PSU Banks the system driven NPLs are likely to be declared in the second quarter, which are less than Rs 2 lakh. So there risk of bit of higher NPLs is there. So we have a buy on Union Bank because we feel it is one of the better PSU Banks trading at almost one times FY13."