Axis, ICICI, ING Vysya, Yes Bank look good: Joshi

Mayuresh Joshi, Angel Broking is of the view that, the larger private sector banks like an Axis Bank, ICICI Bank, a midcap bank like Yes Bank which has huge potential going forward or even an ING Vysya Bank going forward can deliver excellent returns.

Joshi told CNBC-TV18, "The RBI policy coming through in January and expectations of a rate cut coming through interest rate sensitives can basically move in the short to medium-term. So some selective stocks like Tata Motors or Maruti Suzuki India within the auto space, the larger private sector banks like an Axis Bank, ICICI Bank, a midcap bank like Yes Bank which has huge potential going forward or even an ING Vysya Bank going forward can deliver excellent returns." He further added, "Our expectation is that the corporate earnings should grow at around 10-12 percent at least for this quarter. One should have a reasonable amount of movement within the index itself. There might be a strong period between now and February that the markets might move in a 200-300 point range, but then again stock specific action throughout FY13 with increasing capex both from the private and corporate side, interest rates possibly going down with an RBI cut is what the market is expecting. So I think our belief is that we are advising retail investors to go stock specific."