Yes Bank, IndusInd Bank top picks: Dhirendra Tiwari

Yes Bank and IndusInd Bank are the top picks among the private banking space, says Dhirendra Tiwari, Head of  Research Antique Institutional Equities.

Tiwari told CNBC-TV18, "I will just give you brief background in the sense that if you look at these three developments,  one the crude and gold falling can lead to significant amount of reduction in current account deficit. Second is that we  feel there is a possibility, I think there would be increased possibility of rate cuts going forward given that inflation is  moderating.”
He further added, “I think some of the private sector banks like IndusInd and Yes Bank have performed very well in  recent quarters and I think in the easing rate environment they will continue to do so. So I would assume that we are  looking at anywhere between 18-20 percent kind of growth rate in these companies. At least, you could look at  earnings upside or targets of anywhere between 15-20 percent. I would not give exact numbers but I think 15-20  percent will be fair assumption to look at in case of Yes Bank. I would also like to highlight, IndusInd Bank is also one  of preferred banks in that category. These two banks, we continue to like in the private sector space."