SP Tulsian positive on private sector banks

SP Tulsian of sptulsian.com told CNBC-TV18, "I have always been holding a positive view on YES Bank. I have only been negative on public sector banks (PSB). In fact if one really sees today's performance of the private sector bank, YES Bank stands out. There is 6 percent up rise and I have never expressed my concerns, except IndusInd Bank which seems to have steep valuations. I don't think that there is any kind of justification of giving a price to book of maybe Rs 3.3."

"YES Bank is really a very good stock, looking quite cheap among ICICI Bank and Axis Bank. But, I am not convinced with the rally which we have seen in the public sector banks (PSB) kind of stocks because lot of shorts are also seen having built in the system. It can be a good trap if one creates a long position maybe in the stocks like Bank of Baroda, Bank of India, Oriental Bank of Commerce and Canara Bank. We have seen all of them running by 3-5 percent, largely that must have happened on short covering. So, I keep my positive stance on private sector banks which I have been for quite sometime," he said.