Prefer Axis Bank to HDFC Bank: Hirendra Kumar, Elara Capital

In a chat with ET Now, Harendra Kumar, Managing Director, Institutional Equities, Elara Capital, shares his preferred pick among Axis Bank and HDFC Bank.

ET Now: Among Axis Bank and HDFC Bank, which bank looks a better stock to buy?

Harendra Kumar: Our banking analyst prefers Axis Bank over HDFC Bank because he feels that the valuations of HDFC Bank are a bit stretched and there are no immediate triggers for the lender.

For Axis Bank, extra provisioning, a shift towards retail portfolio and additional capital, are bigger positives at the given point of time. In terms of absolute delta, he prefers Axis Bank over HDFC Bank.