You may retain/add this for medium term…ref1273/52.43.
Note: Most banks have qualified for purchase lately as per our system of advising. This may sound strange but that’s what we have to tell by way of advice. the banks lost values because of RBI’s announcement regarding BASELIII capital adequacy requirement going up to as much as Rs 1.5 lac crores in terms of capital injection over the next five years. This has been taken as difficult to raise money but when you look at the profitability of banks , it’s not a big figure and further the capital injected would not be an idle capital which would damage the present holders equity interests. So, there may some method in the madness appearing in the market place.