Buy SBI Aug futures; sell ICICI Bank futures : TS Harihar

TS Harihar of HRBV Client Solutions told CNBC-TV18, "We have changed our view in the last 15 days on public sector undertaking (PSU) banks because of the recapitalisation and better NPA controls been put in place could outperform the private banks. We believe that State Bank of India (SBI) within the PSU banking space could outperform ICICI Bank within the private banking space largely because ICICI seems to be fairly stressed both in terms of bad assets as well as in terms of its fairly overt exposure to one group. So these are the concerns that already been expressed.""We are suggesting that one should buy State Bank of India (SBI) August Futures at Rs 287 and simultaneously sell ICICI Bank Futures in the range of Rs 312-314. However, it is not a kind of a statement on the negative movement or positive movement of stocks. It is more about the outperformance of SBI vis-à-vis ICICI Bank," he said.Disclosure: Neither analyst nor his company has any exposure to the stock.