Buy Axis Bank, says Suresh Ganapathy

Suresh Ganapathy, Banking Analyst at Macquarie Capital Securities told CNBC-TV18, "We do again have a buy on Axis Bank, the story is also similar to ICICI Bank. Again near term this stock could be pretty much range bound because of the asset quality concerns and as we have been telling that for the next 12 months it doesn't look that great from an asset quality situation for the overall market. So, again one has to take a longer term time frame.""Axis Bank is also well capitalised, it has also got a good management and a decent deposit franchise. So, these would be a better long term picks to play the macro economic recovery but near term obviously as I said there could be some level of underperformance," he added.