Look at HDFC, IndusInd Bank, YES Bank: Harendra Kumar

Harendra Kumar of Elara Capital told CNBC-TV18, "At Rs 190, ICICI Bank was a value pick but at around Rs 240-250, the stock will look fairly valued given the outlook for the next 12 to the 18 months. So, it will struggle to reach upwards closer to Rs 300 vis-a-vis some of the other banks.""Clearly, it is a HDFC, IndusInd Bank and YES Bank probably in that pecking order on the private bank space that one would look at. However, there is not much downside for ICICI Bank but on the upside it will struggle in terms of given absolute alpha vis-a-vis some of the other private banks," he said.