Sanjiv Bhasin says PB Fintech is his Diwali to Diwali stock, buy PSU stocks in a bucket

economictimes.indiatimes.com:

Sanjiv Bhasin, Director, IIFL Securities, says PB Fintech will be my stock for this Diwali to next Diwali. Paisa Bazaar, the Policy Bazaar, are raring to go. They will scramble extremely well along with Paytm. We cannot look at these stocks from their lows. We have to look from the highs because they have stabilized their businesses, particularly Paytm, you cannot do without it. The QR business which they are talking of, we are doing five times more digital transactions than China.

Where have the railway, defence and shipbuilder stocks moved? From the recent 52-week high, have they started reversing? Now, one is absolute change and second is a move from the recent high. From Rs 190 plus, RVNL has become Rs 170 in one month but they are still in the green. For Cochin Shipyard, even for smaller PSU banks, the skim from the top is evident. Is the best of the gains over? If you own them, do not sell them, but don’t buy them now.
Well, take it with a little bit of caution and try to do a SIP rather than go wholeheartedly because they have run up far in excess of what actually should be the case.

We agree with the order book, but the execution will always remain a little bit of a challenge and I think the RVNLs, IRFCs of the world may have already hit a near-term top.

So, for me, the comfort lies in Reliance and HDFC Bank purely on the basis of the underperformance and the price. In the end, I have to make money on what I can buy. Plus, the uncertainty means if I am in a bigger heavyweight, my delta becomes much less.

But like I said, the opportunity lies in identifying the stocks. At 40, PNB was a hated stock. At 82 nobody wants to let go.