Buy Federal Bank, IndusInd Bank: Parag Thakkar

Parag Thakkar of HDFC Securities told CNBC-TV18, "What we are bullish on is commercial vehicle (CV) cycle starting in a big way. In 2011 we were selling around 3 lakh trucks and we are down to 1, 80, 000; the industry has shrunk by around 45 percent. So, if we believe that gross domestic product (GDP) will come back and will bounce back to 6.5 percent, CV cycle has to recover."

"In IndusInd Bank where we are secularly bullish because 16 percent of their portfolio is CV financing. They give loans at above 15 percent and they have a 34 percent CASA. The trajectory is set for around 25-30 percent earnings growth for next 10 years over here. So, IndusInd Bank and Federal Bank on valuations are some of the buys," he added.