Stay invested in Axis Bank: Sharmila Joshi

Joshi told CNBC-TV18, "The key concern for Axis Bank has always been its asset quality but this quarter numbers did seem to show that the slippage has not increased by too much. So that was one of the positives. Having said that this is going to remain a concern for Axis Bank because they do have exposure to some of the problematic state electricity boards (SEBs), so this will keep coming up every now and then."

She further added, "In terms of valuation a lot of this negativity for banking as a sector and for this NPA part within Axis Bank is sort of in the price because it is trading slightly cheaper to its peer set of other private banks. So given that and in you have an investment horizon of a year plus, then one can stay invested or else take advantage of the fact that you are seeing a good run up in the stock backed by good numbers as well as perhaps the RBI event getting build into the entire banking space and look to exit. Otherwise comfortably stay if you an investment horizon of a year plus."