PSU banks should be part of portfolio, says Neeraj Dewan

Neeraj Deewan of Quantum Securities told CNBC-TV18, "It would be Bank of Baroda (BoB), State Bank of India (SBI) and Punjab National Bank (PNB) in that order, we have been positive on PSU banks because we feel that the downside risk is less now because the upside can be prudentially very high over the next one – one and a half years. So with the limited downside risk now we are getting, even the bankers are coming out and saying that now this might be the end of non-performing assets (NPA) cycle which has been going down consistently and there should be some uptake happening there.""I think PSU banks should be part of the portfolio and Bank of Baroda is also getting a feeling that the worst is already priced into this stock," he added.