UBS Securities upbeat on ICICI Bank, Axis Bank

Suresh A Mahadevan, Head of India Research - UBS Securities is upbeat on ICICI Bank, Axis Bank.

Mahadevan told CNBC-TV18, "ICICI Bank is our top pick. We also have Axis (2% kind of weight) and IndusInd in our portfolio. So I think we are more oriented towards private banks at this point. Another name which we recently started covering is Federal Bank, there is attractive turnaround story here under a new CEO and also ofcourse this stock being a private bank trades at a huge discount to the other listed private bank. So there could be a good amount of rerating if the data point starts showing up. So I think those are some names we like in the bank space."