Gautam Sinha Roy of Motilal Oswal is of the view that buy ICICI Bank on 5% decline.
Roy told CNBC-TV18, “As stocks are correcting few sectors where interesting buys are emerging would be private sector banks. ICICI Bank is one stock, which has corrected a lot, which one can look at if there is further correction even another 5 percent will be an interesting buy.”
He further added, “We continue to like IT from demand recovery perspective, there also we have seen little bit of a correction now. So, gives good entry point for stocks like Infosys and Tech Mahindra and other than that one can stick with defensive names like pharmaceuticals. Consumer, unfortunately, not too many opportunities coming around but one can take a look at pharmaceutical stocks like Lupin, Dr Reddys Laboratories, are the stocks that we like.”