IDBI a good stock to look at: Gajendra Nagpal, Unicon Financial Solutions

Gajendra Nagpal, CEO, Unicon Financial Solutions, in a chat with ET Now talks about IDBI.

What are your thoughts on IDBI?

If you go down into the history of this bank, this bank has underperformed the other peers. Obviously there were reasons because the management was not showing the aggression which market was willing to value them for. There has been fresh infusion of capital into the bank and then the aggressive expansion that they are getting into - they are intended to open 275 locations, particularly into north and western part of the country where it is a strong CASA based business that they are eyeing on.

All these moves would make this bank worthy of looking at once again and if some of these things market senses that they are able to execute well, this bank will also take no time to get into the league of other peers whom it has been lagging behind. So I do believe that given the valuations that banking space has been having over last few quarters, IDBI stands a chance in terms of relative valuations upside.