Remain cautious on banking sector, see more pain in store: Devesh Kumar, CIMB Securities

In a chat with ET Now, Devesh Kumar, MD & Country Head, CIMB Securities shares his views on the banking sector:


ET Now: What is your view on banks though because some of the experts do believe that perhaps this may be a good time to start nibbling in into the private banking lot do you share the same opinion?

Devesh Kumar: Gradual build up portfolio in any sector is good but in banks, the large questionable assets are across banks and therefore as a sector we will be careful coming in there, yes but there could be some banks where they have followed different criteria. We feel that the pain for banking sector, power sector and infrastructure that has not actually reached the high and there is some more pain left going forward, once that is resolved then these sectors will be the sectors where one should be putting their money.