Yes Bank looks attractive: Sharekhan

Yes Bank is looking attractive, says Hemang Jani, Sr Vice President, Sharekhan.

Jani told CNBC-TV18, "We think that overall banking presents a tactical buying opportunity now that we are somewhere close to the peak of the interest rate cycle and even for that matter inflation cycle. So we feel that from that perspective private sector banks are slightly better placed and from that we feel that from a valuation standpoint Yes Bank is looking quite attractive at two times priced to adjusted book on a FY12 basis."

He further added, "We feel that overall asset quality concerns the people are talking about have been exaggerated particularly for some of these private sector banks and we are very comfortably placed in terms of growth over the next two years. So we like Yes Bank from that perspective."