Jul 26, 2013, 04.51 PM | Source: CNBC-TV18

Pick PNB for long term, says Sharmila Joshi

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.

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