Bullish on PSU banks, IDBI Bank may head higher: Niraj Dalal

Niraj Dalal, Independent Market Expert told CNBC-TV18, "I would not get out of anything. I have been very bullish on public sector banks. I think the hypothesis still remains the same. The prices are better now than they were maybe a year ago. So, it is a real investors delight if your hypothesis is same, the prices have corrected and your conviction is still the same. I would bet significantly on the public sector banks on declines and not for a six months period, but for a 24-36 months period.""I have been bullish on IDBI Bank, State Bank of India and Bank of Baroda. These are the three banks which I particularly like, but one needs to do his or her homework and identify the stocks or the earnings trajectory of stocks that they are comfortable with. Clearly, State Bank of India and Bank of Baroda are the largest PSU banks where I am very comfortable owning them," he said."IDBI Bank for strategic reasons and also when we spotted IDBI, it was at Rs 65, it is at Rs 84. So, it is actually higher despite all the gloom and doom, but I think it is going a lot higher over time."