Dipan Mehta, Director at Elixir Equities remains positive on private sector banks. HDFC Bank, Kotak Mahindra Bank, Axis and ICICI Banks are typically long-term investment plays, he added.

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“Large banks with good balance sheet, good technology, large network and branches, will continue to do exceedingly well. The likes of HDFC Bank, Kotak Mahindra Bank, Axis Bank and ICICI Bank typically are long-term investment companies and usually part of the core holding of many investors. If you are underweight in any of the private sector banks, then underperformance is a good opportunity to get equal-weight or slightly overweight.”

Under-performance in private sector banks is just a passing phase, Mehta said.

“We remain quite positive on all the private sector banks, this underperformance is just a passing phase.”

One needs to be a bit cautious on midcap IT space, he said.

“Largecap IT is a safe haven. Even from a trading point of view and a long-term investment point of view, top three-four IT companies with a big preference for HCL Technologies and Infosys could do well over the next few weeks,” he mentioned.

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(Edited by : Ajay Vaishnav)

First Published:Mar 23, 2021 11:06 AM IST