Positive on banks: Deven Choksey, KR Choksey Securities

Deven Choksey, MD, KR Choksey Securities, in a chat with ET Now, gives his views on bank stocks


Are you advising your clients to buy banks?

Selectively yes because the valuations wise they have become very very cheap and probably the credit growth is not getting hampered as much as people are fearing about. We heard the SBI Chairman saying that the NIMs are going to be reasonably stable in this quarter and next quarter and if the interest rates starts coming down then probably the yield curve would have positive impact on the provisioning side of the banks which could possibly reflect into the bottom line of the banks in subsequent quarters. We remain positive on banks but overall market environment has to give support if that start giving the support then one could probably buy more aggressively into some of the PSU banks which are available at a valuation, which are far more comfortable currently.