ICICI Bank may hit Rs 430-440, says TS Harihar

TS Harihar of HRBV Client Solutions told CNBC-TV18, "ICICI Bank never deserved the discount in valuation over Axis Bank. HDFC Bank historically had its discount. So that discount should first get narrowed, probably about Rs 380-390 immediately and about Rs 430-440 in one quarter is what we are looking at ICICI Bank."

"There are some concerns that yesterday Moody’s did raise some concerns about private sector banks but I think the way the stocks moved up, I don’t think the markets have taken it too seriously. So I think private sector banks and public sector banks will see some short covering at best. I don’t see anything beyond that but I think the real buying interest could come more into the private sector banks," he said.