ICICI Bank may give good returns, says Pradhan

Pradhan told CNBC-TV18, “There is a lot of differentiation between the private banking space and the PSU banking space. One is going north and other one is going south. It is a very funny thing inside Bank Nifty. But then if you ask me to pick up one stock which has possibility of outperforming from current levels then I would pick up ICICI Bank.”

He further added, “From a relative strength perspective I did analysis between private banking stocks and private banking versus PSU banking stocks. I think ICICI Bank stands out against names like Axis Bank , SBI and even against Bank Nifty. From historical perspective if you see HDFC bank has done very well. Even in today’s trade, HDFC bank has been performing very well. So that again has a possibility of outperforming further. But I think ICICI Bank will get you a good risk reward ratios. HDFC Bank has moved up quite a bit. But then I think another 10% upside is still possible in the stock.”