Buy SBI Sept futures, sell ICICI Bank futures: TS Harihar

TS Harihar of HRBV Client Solutions told CNBC-TV18, "We are expecting the public sector undertaking (PSU) banking space to outperform the private banking space. There are couple of reasons - one, the recapitalisation plan which is going to be a major booster for the PSU banks but more importantly the reason Reserve Bank of India (RBI) notification to shift the banks' base rate calculation from average cost of funds to marginal cost of funds is going to be negative as far as private banks are concerned.""We are recommending buying State Bank of India (SBI) September Futures at about Rs 224 and simultaneously sell ICICI Bank Futures at about Rs 255. The idea here is to play on the outperformance of SBI vis-à-vis ICICI Bank," he said.