Union Bank a safer bet: S Mahadevan

Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Suresh Mahadevan See what other Experts & Brokerages are saying about Union Bank See messages about Union Bank Union Bank BSE | NSE 08/02/12 Are Mutual Funds betting on Union Bank?

Suresh Mahadevan , Head-Research, UBS Securities is of the view that Union Bank is a safer bet.

Mahadevan told CNBC-TV18, "If you look at our top picks, we are still little bit more defensively positioned; ITC , Cipla are still there as top pick obviously these are consumer staple, pharma. On the banks we are little bit more adventurous and we really like ICICI Bank ; we think it's quite compelling even at current levels after this recent rally. We like Union Bank, which is a safer bet. In the IT space we prefer Infosys . So these five stocks will be top five out of the 90 odd stocks we cover."

Disclosure: Analyst doesn't have any personal holdings in the above stocks or sectors.