Accumulate YES Bank, says Jagannadham Thunuguntla

Jagannadham Thunuguntla, Head-Research at Karvy Stock Broking told CNBC-TV18, "I feel overall there is so much concern about the asset quality in YES Bank. Even if any bank results with little bit of reasonably good performance in asset quality, market is ready to reward it because the asset quality has been a big concern. Earlier it used to be only with the PSU banks, now it is spreading into the private sector banks.""Even if little bit of reasonable performance in asset quality, market is rewarding, YES Bank is one of those beneficiaries. There may be corrections here and there but it is not a bad level to start accumulating," he said.