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.To cut a long story short, Nifty's next move of 200-300 points may be a bit of to and fro because of global cues. In the broader market, metals are poised to do much better. I think that is going to be the standout for 2021.What are the names you like in the PSU pack?A lot of them have already run up. There are 3 stocks which I think can still do excellent. The first stock is PFC. It is the biggest power lender, along with REC. PFC has a dividend yield of 7%. Power consumption is at an all-time high and you had the best of weather. In the next 3 months, the heat wave will increase and so will AC consumption. So I think power lenders are at their best. Margins are high and the cost of money is low. Recovery is very fast. PFC looks poised for at least Rs 135-140 to me. It is also a dividend yield and I think it is going to perform very well. The other stock would be unquestionably GAIL. It will be the biggest gainer of gas pricing and volume growth, which has been phenomenal. GAIL was in hiatus at Rs 85-88 with a 7.5% dividend yield. I think GAIL is headed to Rs 200.My third pick would be NBCC, which has been a big underperformer. At Rs 48 it has the potential to double given that real estate and construction activities are going to be at their best in the next 6-9 months. The company has a huge amount of order inflows. So these three PSUs look very good to me.What are your top picks in the midcap space that investors can consider for the medium term as well as long term?Godrej Consumer has just roped in the best hand from Hindustan Lever Ltd (HUL). Their margins on sanitizers and their other growth parameters in Indonesia are showing high double-digit growth. It has been a relative underperformer but is headed to 3 figures. I am looking at a target of Rs 1,100. Godrej Properties is going to be a standout play. They have raised capital at 6% which otherwise they would never do. They also did a very big QIP at Rs 1,415. They are going to be the largest executors. They have a management pedigree. This stock is headed towards Rs 2,250 in the next one year. One stock which has gone through all the problems is Zee but it is looking excellent now. The management was always shrouded by one-off activities of the promoter. Look at the new deal. MGM is being acquired for $9.5 billion by Amazon. Zee has the largest free channels on the movie side. Their digital flow and new launches are extremely well received. Zee is the cheapest media stock globally, so I am looking at a target of Rs 275. Again going down the ladder, DCB Bank and RBL are going to be outstanding plays.