ICICI Bank has substantial upside left in the near term: Satish Betadpur - The Economic Times

ET Now spoke to Satish Betadpur, CFA, Global Research Director, Independent International Investment Research PLC on his stock recommendations.

ET Now: How do you view the banking space?

Satish Betadpur: We like banking. We believe that's the leadership sector for the markets to do well. We have always liked mid-cap PSU banks but of late we have been recommending ICICI Bank as our large cap bet.

We believe ICICI Bank has been penalised for all their irresponsible acquisitions that they have done in the recent past, especially Bank of Rajasthan but given that the valuation discount to majors is substantial, so we believe there is substantial upside in this credit cycle for ICICI. We just hope that they do not do anything dumb or stupid, so if they do not, then we believe that the stock has substantial upside in the near term.

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From: http://economictimes.indiatimes.com/markets/stocks/views/recommendations/ICICI-Bank-has-substantial-upside-left-in-the-near-term-Satish-Betadpur/articleshow/6511057.cms