Buy South Indian Bank: Jagannadham

Jagannadham Thunuguntla, Head of Research at SMC Global Securities recommends buying South Indian Bank as the stock may double in the next two years.

Jagannadham Thunuguntla, Head of Research at SMC Global Securities told CNBC-TV18, "I feel that for the banking it is a long way to go. In the midcap private sector banks I feel still in terms of valuation there is some catching up to do and influential names kept on adding South Indian Bank  to their portfolios. I feel the stock should perform."

"On top of that at some stage there maybe chances of consolidation game in private sector banking space. So, there is always a chance that some M&A opportunities may crop up at some stage. I am not talking about two to three weeks or months, I am talking about two to
three years," he added.

"So, buy South Indian Bank on dips; I feel that the stock may double in the next two to three years."

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