Stay invested in PNB, says Sharmila Joshi

Sharmila Joshi of sharmilajoshi.com told CNBC-TV18, "One should hold Punjab National Bank (PNB) for now because obviously this rally that we are seeing in PSUs is because there is short covering on some of the PSU names where those two or three sectors are seeing that short covering and PSU banks is one of those. However, that said, I don’t think Rs 180-190 is a reality very soon given the kind of numbers that I am expecting from PNB. So, I would think that one should ride this out and when he/she sees sort of this rally topping out, use that level to exit."

At 14:46 hrs Punjab National Bank was quoting at Rs 151.05, down Rs 2.20, or 1.44 percent on the BSE.