Hold SKS Microfinance, prefer ICICI Bank: Gaurang Shah

Gaurang Shah of Geojit BNP Paribas Financial Services told CNBC-TV18, "There has been a tremendous turnaround in SKS Microfinance, we have seen the stock being all over the place since the time it got listed because of the negative news flow and the over rank it has especially from the Andhra Pradesh region where in it has got a large part of the loan book but slowly and steadily we have seen improvement coming through. So first of all hold on to SKS Micro, don’t add to it, Rs 485 is the target that you should look at as higher level and over there you could possibly decide where you are going to book your profits and look at something else."

Frontline bank like ICICI Bank or a midcap private sector bank like IndusInd Bank would be preferred. In IT may be something like Tech Mahindra or Infosys or TCS, either of them," he added.