Prakash Diwan of Altamount Capital Management told CNBC-TV18, "Canara Bank is one bank which has stretched itself so much on the CDR side that the kind of non performing assets which it ends up having now is significantly large. So I don't see a respite very quickly, It would be extremely volatile for this stock. It is better off if one moves to ICICI Bank which to me is a much more stronger balance sheet and a turnaround potential candidate in the first leg of the journey as and when it happens."
"Get out of Canara Bank and buy into ICICI Bank if one has to remain within that space and sector," Prakash Diwan said.
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