Buy Axis Bk, ICICI Bk & HDFC Bk on declines: P Lilladher

According to Prabhudas Lilladher's report on Banking sector, banking stocks have declined by 40-60% from their recent peaks. Our top picks in the private banking space remain Axis Bank, ICICI Bank and HDFC Bank. We recommend buying on declines for investors with a 12-18 month investment horizon.

Prabhudas Lilladher's report on Banking sector:

Banking stocks have declined by 40-60% from their recent peaks. Our top picks in the private banking space remain Axis Bank, ICICI Bank and HDFC Bank, while in the PSU space we like Punjab National Bank, Bank of India and Bank of Baroda. We recommend buying on declines for investors with a 12-18 month investment horizon. In the near-term, our sector outlook is neutral, while we maintain an outperformer rating over a 12-18 month period.

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