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Viewing report
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Alpha India EE – Top Early Economic Shorts (Banks)
Orpheus Capitals, May 2011
Top Early Economic shorts (Banks)
We continue the analysis of our early economic stock ideas with two top performer stocks from the Indian Banking sector, Kotak Mahindra Bank and Punjab National Bank. We compared them against their sector index, NSEBANK. The relative performance and the relative Jiseki (Fig 3, 4) lead to a multi month (from Q3 2010) outperformance of NSEBANK in both cases till now as illustrated by the brown lines in the relative performance illustrations (Fig. 1, Fig. 2). Not only Kotak Mahindra Bank and Punjab National Bank are the top ranking potential short ideas, their relative case against their sector index makes the multi month outlook for NSEBANK even weaker. This adds to our overall negative outlook on the market.
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