Buy South Indian Bank, HDFC Bank on dips: Malkani

Jagdish Malkani, Member- NSE/ BSE advice traders to buy South Indian Bank and HDFC Bank on dips.

Malkani told CNBC-TV18, “There has been a running away from the field private sector banks, PSU banks clearly have got this sort of domical of restructured loans, bad loans etc and justifiably there is a lot of pain and angst in the economy and it is rubbing off on that.”
He further added, “Private sector banks, the perception is better managed and also the reality, so the really strong stocks have been what take your breath away, HDFC Bank continues to make new highs, goes down just to beat its previous highs, followed I would say in strength as a stock buy Kotak Mahindra Bank and couple of those. So those are rather stiffly priced but if you were to ask me, for picks I would opt for some caution, go lower down, stocks like Karur Vyasya or even DCB has been performing well. I think there are some upsides in that. So yes, I think the South Indian banks are reasonably good, I wouldn’t be going out in buying in a hurry but in general these are stocks on a dip, I would be looking at South Indian Bank and ofcourse as I said HDFC Bank itself and Kotak Mahindra Bank.”