Mid-cap PSU banks: One should not look at immediate gains because of price correction, says Ashu Madan

In a chat with ET Now, Ashu Madan, COO, Religare Securities shares his views about the outlook of Mid-cap PSU banks.

ET Now: What is the call on Mid-cap PSU banks?

Ashu Madan: Yes. If you look purely at valuation and fundamentals leaving aside the sentiment, certainly there are few stocks, which have become lucrative to buy because of the price correction. But I do not think that immediately somebody should look for gains because they have corrected. If somebody is convinced about India story and believes in deep investing philosophy, many of these banks are into that investing mode where we can see for medium to longer term, not for the immediate term.