See profit booking in Axis Bank, ICICI Bank: Jitender Kumar

See profit booking in Axis Bank and ICICI Bank, says Jitender Kumar, CMT, SBICap Securities.

Kumar told CNBC-TV18, "Banks are moving up on the expectation of CRR or repo cut but to me it looks like Bank Nifty has huge resistance at 10,800 levels. I think this is where it will hit and the profit booking will come. Axis Bank and ICICI Bank looks good but given the huge run up 4-3%, I feel profit booking should emerge soon."
Axis Bank's trailing 12-month (TTM) EPS was at Rs 82.46 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 14.23. The latest book value of the company is Rs 460.22 per share. At current value, the price-to-book value of the company was 2.55. The dividend yield of the company was 1.19%.