Sandeep Shah of Motilal Oswal Private Wealth Management is of the view that one may stay invested in HDFC Bank and IndusInd Bank.
Sandeep Shah of Motilal Oswal Private Wealth Management told CNBC-TV18, "We continue to remain bullish on the private sector banks and public sector undertakings (PSU) banks will offer buying opportunities like we saw couple of weeks back. Broadly given the fact that we are in a bull market and we are at a stage where the economy is rebounding from a decade low, from 4.5 percent maybe going back up to at least 5.5 percent this year and accelerating to 6.5 percent. What will tend to happen is the banks like Axis Bank and ICICI Bank might actually tend to outperform the higher quality banks like HDFC Bank and IndusInd Bank, having said that if you continue to own the HDFC Bank and IndusInd Bank you should continue to stay invested."
"If you are looking for little more pop and if you are looking for returns outperformance over three to five years of timeframe, then stocks like Axis Bank and ICICI Bank will give you better returns maybe ICICI Bank even more so because some of parts valuations tends to work better in bull market, tends to work with economy recovering as the markets starts to price in value of the subsidiaries and the different businesses," he added.
"On the PSU banking space I would continue to prefer be with quality and size we would include State Bank of India (SBI) and Bank of Baroda (BoB). If wish to nibble at some of the smaller banks then you can build smaller positions there in maybe Oriental Bank of Commerce (OBC) which is trading at close to 0.5 times price to book but there of course is the reversion to me theory at work. Overweight banks in general for those with low risk appetite stay with the private sector banks, those with relatively higher risk appetite can play the PSU banks as well," he said.
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