Devang Mehta is constructive on PSU banks, highlighting their clean balance sheets with minimal bad debt and compelling valuations for select names. He views them as a dual proxy for India's infrastructure capex cycle and the financialization of household savings, noting their increasing investment in technology infrastructure to gain market share.

Devang Mehta’s track record: 3 graded calls · 95% CI 0–56%

Nifty PSU BankBullishCalled 23 Feb 2026Graded 19 Jul 2026
Verdict:MISS

Nifty PSU Bank decreased from ₹9825.05 to ₹8249.45, a drop of 16.04% in 30 days, which contradicts the bullish call.

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