Do not buy Axis Bank today: Seshadri Bharathan

Seshadri Bharathan, MD & CEO, KSEMA Fincon Ltd, spoke to ET Now on Axis Bank.

Coming to you especially on the picks that you have Axis Bank you are particularly bullish on this one?

Definitely yes and my call is not to buy today immediately but when market corrects you will have an opportunity to buy into this bank around Rs.1150 and my call is still Rs 1400.

The net interest margin for this bank has improved around 4.1%, CASA is around 47%. The fee base income has gone up, the NPAs have come down for this bank so overall I think this is one bank where investor should put in their money.