According to Tirthankar Patnaik of Religare Capital Markets one can sell private sector banking stocks because the numbers are not going to be good and any kind of capital outflow from India would hit financials the most.
Tirthankar Patnaik of Religare Capital Markets told CNBC-TV18, "We have been negative on PSU banks for quite some time. We do not expect numbers to be fairly good even in any kind of revival in this quarter result season.”
“For private banks we would be sellers now because the numbers are not going to be good and any kind of capital outflow from India would hit financials the most. Foreign investors are massively overweight on financials in their portfolios. Therefore we would not be buyers into private banks as a sector at this point in time,” he adds.
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