Prefer Kotak Mahindra Bank, Yes Bank: SP Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, "If you see this yuan devaluation or may be the currency impact, I think the banking stocks continue to remain week and if you really pick two stocks from private sector banks which I will not touch are ICICI Bank and Axis Bank. The preferred bankswill be Kotak Mahindra Bank followed by Yes Bank.""In ITC, yesterday we have seen 80 percent delivery volume. Over Rs 1 crore shares were traded and 80 lakh shares were delivered. If you see yesterdays FII data, may be Rs 4500 crore buying and Rs 4250 crore may be selling, net selling is Rs 250 crore. Theoretically if I just say that if ITC share would not have been there, FII selling would not have been there. So, am I disappointed with this FII data, I will say no because there has been Rs 10000 crore volume by FIIs, they have bought Rs 4500 crore equity. If on a net basis Rs 250 crore - 80 lakh ITC shares makes Rs 250 crore. So, that is the net effect," he said."I don't see any reason to remain invested in HUL and ITC. May be you can see a bump off about may be Rs 5-10 on this but continuously ITC will be seen on a sliding scale," he added.