HDFC Bank likely to move 15 per cent up in six-nine months: Sandip Sabharwal

In a chat with ET Now, Sandip Sabharwal, Market Expert, shares his views on the Banking sector. Excerpts:

ET Now: What is the view you are getting about banking? Do you think that also is going to recover as we saw last week?

Sandip Sabharwal: No I think banking is recovering very silently now. So we do not see those rapid moves. But then we suddenly see those stocks at 52-week highs like you saw for Axis Bank. We have seen Kotak moved very substantially. So we will see these sort of moves and we could see HDFC also come back. HDFC Bank has been an underperformer for a long time and eventually, we will see a fundraising cycle play out for that bank over the next three to six months and typically for private sector banks, we have seen pre-fundraising the stock price movement tends to happen. So that is something which one could play for because finally, we are not looking at a 15 per cent move in the markets now over the next six-nine months. But then we have to look for stocks which could deliver 15 per cent and HDFC Bank would be one of them.