PNB should reach 1100: Convexity Solutions

Sudip Bandyopadhyay, Managing Director & CEO, Convexity Solutions in a chat with ET Now talks about PNB.

Coming to banking space and its PNB why you most bullish on PNB?

The other interesting sector which we believe in and the particular stock which we believe in is Punjab National Bank. This particular stock is again interestingly positioned. The bank’s CASA ratio is very very interesting and attractive. They have a huge deposit base. They have a huge network and they have a very strong balance sheet as things stand now.

Currently its quoting at around Rs 1000 and we are confident that within a period of about 6 months it should reach about Rs 1100. Indian economy is growing very very rapidly growth of between 8.5% to 9% is definitely going to happen and if GDP grows by 8.5%-9% banking and financial services will definitely continue to grow at a robust pace and Punjab National Bank being one of the largest bank in the country will definitely benefit.