Positive on Dena Bank and Bank of India: Avinash Gorakshekar, Anagram Capital Ltd

Avinash Gorakshekar, Head of Research, Anagram Capital Ltd, in a chat with ET Now talks about PSU banking stocks.

Amongst the PSU banking lot which one are you pegging most hopes on this quarter?

We are positive on Dena Bank of Bank of India. In fact, in Bank of India clearly we expect that the credit growth is likely to be in excess of almost 20-22%. The same thing for Dena Bank, in terms of valuations it has got a lot of catching up to do. We would suggest that if Dena Bank can also be bought from a medium term perspective. I think not only the Q1 numbers but over the next 12 months Dena Bank is one of the few banks which would also get capital from the government as addition to the tire 1 capital.

So Dena Bank and Bank of India would be my picks from the PSU banks.