Kotak Securities is bullish on State Bank of India, Axis Bank, Bank of Baroda, and Union Bank from the banking space. The brokerage expects 14% year-on-year loan growth in FY10. It sees deposit growth at 18%.

Manish Karwa of Kotak Securities, expects 40% and 20% growth in Axis Bank's Q3 net inter..

The dismal monsoon has dampened the sentiment in the market considerably, Shashank Khade of Kotak Securities said, adding that economists would now revise India’s gross domestic product (GDP) forecasts.

Khade added that the lack of rains would impact flows into the economy.