Banking space very exciting; SBI right bet for long-term: Siddharth Sedani

Siddharth Sedani, Sr Manager (Portfolio Management Services), Microsec Capital Ltd. in an interview with ET Now talks about banking and PSU stocks.

Banking as a space and SBI in there, would you bet on the PSU banks in this last leg of this rally?

Definitely banking space is very attractive because of all the domestic reasons. Banking is catering entirely to the domestic region and the way we are looking at of the Direct Tax Code which are coming up, in terms of individual spending and everything, it is purely boosting in domestic consumption.

So on totality, banking space looks very exciting. In terms of SBI, of course it has reported a lower advance tax numbers of around 869 crores versus 1068 crores but on top of it, provisional dates have been delayed for SBI and SBI has gone into a lot of expansions which are giving pressures on return ratios right now but going forward for a long term basis, SBI can be a right bet.