OBC will show up a strong outperformance going forward: Gajendra Nagpal

Gajendra Nagpal, CEO, Unicon Financial Solutions in an interview with ET Now talks about the banking space.

Any outperformance within the banking space that you come away with?

I was about to recommend to your viewers a stock Oriental Bank of Commerce. The stock has shown a stupendous performance in quarter 1 of this year and also, the stock is going to open 175 new branches, the CASA growth is expected to be 30%, their NIMs is going up on a YoY basis and very strongly on a QoQ basis.

All the basic parameters which obviously we all talk about generally net interest margin, CASA deposit, branch expansion and the kind of economy move that we are seeing, I do believe that their NPAs are also going to come down substantially.

As we have been talking about banking sector as a whole and banking space has been an outperformer over the last few weeks or few months, I do believe that OBC also is going to show up a strong outperformance going forward. So I would recommend a buy on the counter.