Deven Choksey positive on banks, advises accumulating

Deven Choksey, Managing Director at KR Choksey Shares & Securities has a positive view on banks and advises acculumating with a view of 2-3 years.

Deven Choksey, Managing Director at KR Choksey Shares & Securities told CNBC-TV18, "Public sector banks (PSBs) definitely demand consideration at the highest end. Large PSBs would be the beneficiary of the higher number of growth projections that we are talking about. What we saw in case of State Bank of India (SBIs) result the other day, is a validation of a viewpoint wherein we believe that the higher growth rate will help those people who are having higher size book and at the same time the acceleration in the credit is likely to take place. So, better growth rate would basically benefit those who are having larger size book. So, the focus would remain within the PSB with large size banks."

"At the same time, in the private sector the business model is quite decent. So, 25-30 percent kind of credit growth in a good economic environment is distinctly possibly at least with first three or four banks. So, I would remain positive in the banking space, may be corrections of any degree would be an opportunity to consider them accumulating into the portfolio for investment for at least two to three years and above," he said.

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