Sell YES Bank, says Sharmila Joshi

Sharmila Joshi of Peerless Securities told CNBC-TV18, "Yes Bank at this level would remain a hold because when you do see recovery and some kind of sanity return to banking stocks then I think it is going to be the private banking space that will see the buying first. Maybe have some kind of a strategy in place that if it goes below this then sell it and then try and buy it back lower. I certainly think that at some point in time you are going to see some relaxation of the strict RBI measures that sent all these private banking space into a tail spin.”

She further added, “If things come back even sort of a footing for banking as a space then definitely Yes Bank will be everybody’s top pick at that point in time. It just depends on your investment horizon and the kind of price that one got it at. It makes good sense to try and sell it out at Rs 310-315 if one gets it and then try and buy it back lower or something like that.”