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Last Updated : May 02, 2017 03:39 PM IST | Source: CNBC-TV18

Prefer RBL Bank on dips, says Gaurang Shah

According to Gaurang Shah of Geojit Financial Services, one may prefer RBL Bank on dips.

Gaurang Shah of Geojit Financial Services told CNBC-TV18, "RBL Bank IPO was somewhere in August last year 2016 at Rs 225 or thereabouts. We had come out with an initial IPO coverage note wherein we had advised an subscribe on that particular note. Since then, the stock is trading at somewhere close to about Rs 580-585 levels. It has shown tremendous amount of return in terms of investment and I had a look at the last five years performance of the bank and they have been going consistently every year."

"I don’t know what the numbers are going to look like today, I hope they are equally promising, but it has run up to a great extent. It is better safe to have some investment in banking sector like RBL on possible dips, not at these levels because your risk reward is not favourable and diversify into other sectors rather than parking all your capital into one sector and one stock," he added.
First Published on May 2, 2017 03:17 pm