Positive on Development Credit Bank: Fayeza Hafizee

Fayeza Hafizee, Vice President, Institutional Sales, Intime Spectrum Securities Ltd., in a chat with ET Now speaks on Development Credit Bank.

Did you have chance to look what Development Credit Bank dished out in terms of numbers because they have done a turnaround a Q2 PAT of 5 crore versus a 17 crore loss do you track this one at all?

Well there was an expectation on DCB doing well but from what I am sensing the numbers are little better than what markets in fact significantly better than what markets expected, so the turnaround was anticipated and it has come in. It has come through very well so market should give it a positive, already the stock has seen a significant movement over the last 2 to 3 weeks and probably we should build upon that. I would imagine this stock has formed a base and looks very good to us so we would be very positive on this counter. I guess and overall other financial numbers have been largely in line, they have too many great surprises and we need to watch a lot more before the bigger ones need to come out and we need to see where trends are going over there.