Which is better stock for long term between under priced Axis Bank and richly priced PNB housing

Axis bank is underperformer so is under priced at just over two time(2.3 time of book ) book value and has done nothing in last two years .PNB housing being a growth stock has already dream run but over priced at around 9 time of book value .As market is now at very high level ,so what will happen now ,past under performer will show catch up due to stock rotation in anticipation of improvement in NPA or those stocks like PNB housing which had already performed hugely and looks grossly over priced will continue its dream run due to growth.What is members views.

 

I has been holding Axis Bank for the past >=2 years along with other large cap banking stocks and not see major improvement in NPA, So I sold 60% of my holding gradually and invested that into IDFC Bank, L&T Finance and DHFL. I too holds small qty of PNB housing via IPO and have to add more on SIP. I agree it is overpriced.