Book profits in Dena Bank, Central Bank of India: SP Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, "When series was started on May 27, I said that all the PSU banks who are having presence in F&O will be giving a gain of about 10 percent. We have seen that gain of about 10 percent and we have seen that gain extending to about 15 percent. Maybe in case of State Bank of India, it has risen by 16-18 percent also, because this series started with Rs 185 and you have seen a price of Rs 218-220. So, there are some of the banks which are not having presence in F&O. One is like Dena Bank and second is Central Bank of India." "Because this F&O, PSU bank stocks having run so much in this last three weeks, because this series is of five weeks and started three weeks back, all of them have risen, maybe like Allahabad Bank, Andhra Bank, Union Bank of India and in fact Canara Bank can be added. In my view, Canara Bank has also shown a significant upsurge," he said."So, probably this non-F&O PSU banks like Dena Bank and Central Bank are now catching on and both are now seeing the double-digit growth. But maybe from a trading point of view, the momentum can be held on till expiry, but for these non-F&O stocks like Dena Bank and Central Bank, those who are holding the stock, I will advise profit booking at the current level."