Varun Goel upbeat on private banking

Varun Goel, Karvy Private Wealth is upbeat on private banking.

Goel told CNBC-TV18, “I think there are four sectors that we are extremely positive on. One is definitely private sector banking space. I would also have a few picks in the automobile space. This is largely based on expectation that the monetary policy will ease. I think 30th of October we might see a rate cut and of course we continue to like bottom-up stock ideas in the consumption and pharma space.”