Investors must avoid adding banking stocks to their portfolio, said Deven Choksey of KRChoksey Securities in an interaction with CNBC TV-18. "Investors have faith in large banks such as HDFC Bank, ICICI Bank and Kotak Mahindra Bank as they feel comfortable with big names. However, adding into these particular stocks may sometimes lead to fall," he said.

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He further added, “Some of the good quality NBFCs like Bajaj Finance is in corrective downside. This is a good time to look into some of these companies and then into portfolio during every fall.”

On State Bank of India (SBI), he said “I am comfortable with SBI and its business and whatever they are doing ...But where I am not happy is the management part ... which continuously changes in public sector banks."

"Government must ensure that the lending business requires stability in the management, you can’t be changing the management every now and then," he added.

First Published:Mar 6, 2020 3:10 PM IST