Exit PNB, says Shahina Mukadam

Shahina Mukadam of Independent Market Expert told CNBC-TV18, "I wouldn’t be holding Punjab National Bank (PNB), I have a negative call in this stock. The numbers for the quarter were good in a sense. I am not too positive. Punjab National Bank's numbers were good, we saw good rally but if you really look at the valuations if you take the non-performance assets adjust for it you know the book value is almost nil. I think the valuation is just too stretched. I wouldn’t be really holding this bank. If really you want to hold a bank better to switch to State Bank of India (SBI).""Union Bank is a similar story, basically the prices have run far ahead of the pure valuation in terms of book value for the shorter term. So, at best I see a consolidation and upside from here on will have to factor in valuations which is the book value," she added.