Go long in banking stocks: Harendra Kumar

Harendra Kumar of Elara Capital told CNBC-TV18, "We will go long on banks because I think if we get to hear on the recapitalisation of banks and some amount of M&A or direction on that front that could be a huge positive to the market. I think that is where exactly the opportunity lies apart from the overall trade on the Nifty."At 11:12 hrs State Bank of India was quoting at Rs 156.35, down Rs 0.35, or 0.22 percent. It has touched an intraday high of Rs 158.15 and an intraday low of Rs 155.60.