Accumulate Kotak Mahindra Bank: Phani Sekhar

P Phani Sekhar of Karvy Stock Broking told CNBC-TV18, "Considering the fact that we are almost at the initial phase of the economic cycle, while one can argue about how steep and how quickly the cycle will turn around, considering that we are still in the initial phases, even though the valuations look a tad expensive, but since Kotak Mahindra Bank is a well run bank and is growing and expanding, the benefits of the ING Vysya Bank acquisition will be very evident over the next three to four years in the next expansion. Longer-term investors can still look at accumulating this stock."

On Tuesday, Kotak Mahindra Bank closed at Rs 1,423.65, up Rs 87.40, or 6.54 percent. It has touched an intraday high of Rs 1,428.35 and an intraday low of Rs 1,342.