Book profits in IndusInd Bank: Prakash Diwan

Prakash Diwan of Altamount Capital Management told CNBC-TV18, "One should book profits in IndusInd Bank. I don’t see so much of an alarming distress in the numbers of IndusInd Bank when you come close to the picking of the interest rate cycle. Smaller banks are trying to find it very difficult to raise money at lower cost and that is exactly what is hurting these people also.”

“The loan growth continues, but the quality will deteriorate because the cost of funds is always getting higher and higher. So I think that is a symptom that all private sector smaller banks would face. It is a good time to get out of IndusInd and probably move into a smaller public sector undertaking (PSU) bank instead which could be a much more defensive bet of sorts,” he added.