Axis Bank & ICICI will see further upside: Suresh Mahdevan

Suresh Mahdevan, Head of Research, UBS Securities in an interview with ET Now talks about banking stocks.

Banking stocks indeed are dominating trade. Now Axis Bank price to book about 2.5 times, HDFC Bank price to book of about four times, these are expensive stocks and these expensive stocks are still moving up...

Yes, certainly. When foreign investors come and buy Indian names, typically the initial impression is to buy large-cap stocks, so some of the large-cap stocks will definitely benefit. We like both Axis and ICICI Bank definitely on the banking space. These are names where we still see some further upside.