Sharmila Joshi, Head of Equity of Peerless Securities recommends buying Punjab National Bank (PNB) with a long term view.
Sharmila Joshi, Head of Equity of Peerless Securities told CNBC-TV18, "At this point in time even private banks are under considerable pressure. Yes Bank has corrected 30 percent in a very short period of time. So, in that sense I would prefer a private bank. May be one should just wait to see how this whole banks sell-off is panning out and then enter banks like ICICI Bank or HDFC Bank. Even Punjab National Bank (PNB) at current levels is not bad if one have one year kind of a view."
"However I would prefer a private bank inspite of the pressure that we are seeing on private banks at this point in time. I would wait a bit and then may be buy into ICICI Bank or HDFC Bank," she said.