Prefer private banking stocks despite rich valuations: Ajay Bagga

In a chat with ET Now, market expert Ajay Bagga shares his view on Kotak Mahindra Bank.

ET Now: Share with us your view on Kotak Bank's fourth quarter numbers. I do not know if you had a chance to look at the numbers in great detail, but the performance of private banks have almost been four out of five this earnings season. Are you enthused by private banks' numbers? Are you enthused by Kotak individually? What would you be doing with the private banking space at large?

Ajay Bagga: As you pointed out, private banks' performance was four out of four or rather five out of five. Clearly, valuations are quite rich. But the growth is there and they have maintained asset quality as well. They are delivering. So, I would keep the entire private banking space as top pick in terms of sectors.