Avoid banking stocks, says Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Development Credit Bank has a better chart than most of the other banks – private sector or public sector undertaking (PSU) banks. If somebody wants to buy a bank Development Credit Bank is an appropriate candidate. Independently, I do not think banks should be bought into."

At 13:48 hrs Development Credit Bank was quoting at Rs 49.70, up Rs 1.20, or 2.47 percent. It has touched an intraday high of Rs 51.65 and an intraday low of Rs 48.05.
The share touched its 52-week high Rs 54.70 and 52-week low Rs 41.30 on 19 June, 2013 and 27 July, 2012, respectively. Currently, it is trading 9.14 percent below its 52-week high and 20.34 percent above its 52-week low. Market capitalisation stands at Rs 1,243.07 crore. Also Read: Ambit Corporate buys 73.86 lakh shares of DCB