Accumulate Kotak Mahindra Bank: Jignesh Shial

Jignesh Shial, banking anlayst at IDBI Capital told CNBC-TV18, "It is a little early to give a target price in Kotak Mahindra Bank because we have to exactly understand how this merger takes place and what kind of consolidation they are planning to do. However, accumulate is definitely a call that we would be recommending to our clients for Kotak Mahindra Bank, the reason being, this is strategically a very right kind of acquisition that Kotak has done at this point of time."

"ING Vysya Bank had been a CASA rich bank, has a relatively smoother kind of an asset quality trend and has been largely present across southern India where Kotak wanted to expand its presence. So, it seems pretty decent kind of acquisition at a decent valuation. So, it looks a win-win situation for Kotak Mahindra Bank and it would be a clear winner over a period of mid to long-term," he said.