GAIL among three PSU stocks that may soar higher in a few weeks

PFC, GAIL and NBCC are three PSU stocks that Sanjiv Bhasin, Director, IIFL Securities, is recommending. Edited excerpts from his interview with ET Now:

Do you expect Nifty to hit a new high now?
The markets are forward looking. The corporate results have been a standout. We are just missing the woods for the trees. Corporate India’s resilience and performance is excellent. So I will go by the numbers, that is what the market respects. And lo and behold! I told you by the end of May we may be staring at a new high which was seemingly very-very impossible. What takes my breath away is the five-year underperformance of midcaps now turning into outperformance. Midcap index is at an all-time high and it is telling me that retail money is here and that is what is going to drive the markets.