ICICI Bank looks cheap: D Agarwal

Dhiraj Agarwal, Independent Market Analyst is of the view that ICICI Bank is looking cheap at this point of time.

Agarwal told CNBC-TV18, "At this point I would choose between Bharti and ICICI Bank and both for slightly different reasons. Bharti because the growth in the sector and the business is still doing pretty well. So fundamentally that is one of the sectors, which has been least impacted in this downturn however the stock price has been. From these levels, these prices and these valuations that can stage a smart come back."

He further added, "ICICI Bank primarily because I think it is very cheap at this point of time. I see the policy environment supportive of infusing more and more liquidity into the system, which should be positive for banks. From a business perspective, Infosys will continue to be a bit of a challenge for some more time primarily because of US slowdown. So it is a bit of a neutral kind of a stance that I have on the Infosys right now."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Source: Moneycontrol