Hold YES Bank, says Rajesh Agarwal

Rajesh Agarwal, Director - Research at Eastern Financiers Limited told CNBC-TV18, "If one has a longer term horizon, one can definitely add YES Bank from Rs 300 level. At this point, one should wait for adding new positions to this stock, but as far as performance is concerned we are very positive on the stock. First quarter numbers were up by around 38 percent, net interest income went up by 40 percent."

"We have seen lot of banks posting higher non-performing assets (NPAs), YES Bank on the contrary has lowered its non-performing loans by around 49 percent and that is a very good thing. Even on valuation parameters, it is trading at a P/E of less than 9, which is highly undervalued compared to other private sector banks . Hence, we would recommend a hold on to this stock and add it around Rs 300 level," Agarwal said.