Prefer Jammu and Kashmir Bank, says Kunj Bansal

Kunj Bansal, ED & CIO of Centrum Wealth Management told CNBC-TV18, "Jammu and Kashmir Bank is one stock which looks good and trades at an attractive valuation in terms of price to book. It is in a very sweet spot; a large part of its liabilities come from the state of Jammu and Kashmir where till now it had very relatively less competition. Of course now a lot of other private sector banks are entering into the state of Jammu and Kashmir."

"Its margin comparable to other competitors is higher. So, others are in the range of around 3 percent or lesser, the net interest margin for Jammu and Kashmir Bank is closer to 4 percent. So, that is one idea which looks good in the current market condition; it hasn’t participated also like a lot of other stocks. So, to that extent offers safety as well," he added.