Target of 50 for Bodal Chemicals: Ganesh Shanbhag

ET Now spoke to Ganesh Shanbhag of SMS Financial Services on his views on City Union Bank.

ET Now: What’s your outlook on City Union Bank?

Ganesh Shanbhag: It's a relatively small, very well-managed south-based bank. We have seen that these private sector banks could become take over targets and L&T Finance holds just under 5% over here.

We feel that as and when there is an acquisition, it’s gradually inching up and as and when we see that, the valuation of this bank would automatically change. We are putting a target price of around Rs 50 over a one year period.