Pick IndusInd Bank, says Parag Thakkar

Parag Thakkar of HDFC Securities told CNBC-TV18, "IndusInd Bank remains the best pick. They can grow aggressively when times are good. So it is base effect more than anything else. Base effect plus Rs 15,000-18,000 crore of the portfolio of Rs 60,000 is a high yielding portfolio which gives them above 15 percent yield and that is coming out of a complete mess. CV cycle, LCV cycle and construction equipment are emerging out of a complete bottom. So if it reverses then credit growth in that area can accelerate. So it is highly profitable. Valuation is 3x book, but that is okay because earnings growth is going to be 30-35 percent."

"In ICICI Bank there are so many triggers, because if insurance bill is passed and they have a large value over there plus plus they are very well capitalised. So they can continue to grow at 20 percent," he added.