Sanjiv Bhasin’s view on Banks and Chemical stocks in an interview given to ET Now…
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ET NOW: The way Axis Bank has come back 2000 bucks. People are focused on HDFC, ICICI quite a lot, but this one quietly came kind of had done pretty well. [Sanjiv Bhasin’s view on Banks and Chemical stocks]
Sanjiv Bhasin: I think day before yesterday I that was my top banking. In fact I stressed the need that the Citibank when this was the huge money order and like you said you know I think Amitabh Chaudhary has balanced the book accidentally being a man from the insurance, he has been conservative. He has under-promised but over delivered and for once he is now talking about bullishness on the credit growth. So I remain very, very optimistic.
This is one of our top holding downs of people and topics also and I think this is definitely headed higher. So you know it will outperform more fear through Blackpool and it has that I think it will be. More steady than any other private sector bank. So in our order, it is Axis Bank, it will be ICICI and it will be HDFC, third in the large cap banks. But that and some of the midcap banks are looking very, very, you know, attractive at this price.
[Sanjiv Bhasin’s view on Banks and Chemical stocks]
ET NOW: Stealing Ajay’s question now because he’s been talking so extensively about this chemical stuff. So let’s get in a take from you then. Sanjeev, What do you make of it? Kunal Saini been tracking it for the past few months or so yesterday. Was that synchronized move? Are you seeing merit in this? [Sanjiv Bhasin’s view on Banks and Chemical stocks]
Sanjiv Basin: I was putting my money on SRF at 2150 and it’s now moved up very smartly but that and Deepak Nitrite both deserve the action. You can add ATUL as a chemical play. I think all three are all looking extremely good. That whole chemical basket is looking very, very good. Specialty chemicals particularly. And SRF takes the lead. It’s the largest layer which provides to their and other players and then you know some of businesses along with the Nilon Cord are you can extremely well. So we are overweight on SRF in this market.
We had a dark horse play over there from 470 in Aarti Industries. All bad news is in the price. That stock will be a relative outperformer. [Sanjiv Bhasin’s view on Banks and Chemical stocks]
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