Kotak Mutual Fund overweight on banking sector

Harsha Upadhyaya, Head of Equities, Kotak Mutual Fund is overweight on banking sector. However, he also advised booking profits if the sector rises further.

Upadhyaya told CNBC-TV18, "I agree that banking space has really shot up in the last couple of weeks in expectations of a rate cut. Also the results have been quite good in that sector and the earnings growth have been very strong. And non-performing assets issue has not been there largely in that particular pocket."
"We continue to be overweight on the sector. But as we move forward if that segment of the market continues to move up then may be there is case for taking some profits off the table," Upadhyaya added.