Here transcript of Ajay Srivastava , Dimension consulting on ET - I personally follow his interviews and set his name on Google alerts -
Would that mean that you would say yes to a Yes Bank at these levels?
I already hold it. So I have already said yes to it. It is a great franchise. It will be sold and eventually it will be merged and even if you get a decent two time, two and a half times book value, you would have made a decent pile of money.
I think you are in the game in there. It is a good bank. It has got result. Nobody said results were wrong. It has got its own set of issues which they will sort out and eventually it is a clear case of merger. It will get merged somewhere. It is just a matter of time. You punt on it and live with it.
We hold it and we believe it is going to be a good buy because nobody is saying that the bank is a sham at the end of it.
Are you buying Yes Bank at Rs 168? You hold Yes Bank but I would imagine that your purchase price was much higher.
We have been purchasing for a long time. I do not know whether this week my people have bought or not. But if it gets any lower, if we are about Rs 150 or so, would you buy add your position? My answer is yes unless there is a catastrophic event. Again it is not answer that in case of the worst case scenario like a big fraud in the bank, would we buy it? Answer in that case is perhaps no.
I keep guarding myself in saying that because a long time back there was this one bank. The press conference was going on and somebody was on the stage and I would have bought this bank at any point of time. But by the time the conference ended, the stock was zero. So, I am not sure. I think Yes Bank is a reasonable buy at this price unless a frightful surprise comes out.