Moneycontrol
Oct 17, 2016 03:48 PM IST | Source: CNBC-TV18

Hold Axis Bank, says Avinash Gorakshakar

Avinash Gorakshakar, Market Expert is of the view that one may hold Axis Bank.

Avinash Gorakshakar, Market Expert told CNBC-TV18, "As far as Axis Bank is concerned as far as asset quality clean up is concerned, we could see possibly another quarter of a little asset quality issue at least for this second quarter. More importantly the market is keenly awaiting what is the status on the SUUTI sale because that is going to be a near-term kind of trigger for the stock at what price the government decides to off load these shares in the open market."

"However, overall if you see the business structure for Axis Bank I would suggest that if one is a long-term investor, he/she should hold on. I think it is one of the front line private sector banks. Asset quality issues apart I think if one can hold for next 12 months, I think clearly from the second half of this financial year we could see some asset quality pain easing because already the first quarter they have already taken a big write off, they have announced a big watch list, so I would suggest to hold on rather not add fresh positions," he said.
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