Buy SBI for medium to longer term: Avinnash Gorakssakar

In a chat with ET Now, Avinnash Gorakssakar, Founder & Director, Moneyinvestments.in, shares his views about SBI.

ET Now: Strategically how would you time your entry and exit, when it comes to SBI?

Avinnash Gorakssakar: SBI has surprised the markets with its Q4 numbers and clearly the markets were happy that on the gross NPA front, there was some marginal improvement. Going forward, if the IIP data & the macro data improves and the credit cycle picks up, that would be helpful for most of the banking stocks including SBI. In addition, we are hearing that the markets are now discounting another cut of 25 basis points. If somebody has a medium to longer term view, I would suggest this is not a bad price to get in at all. In fact, the stock had seen a low of 1800 odd and now it is about 2000 odd. This is a very strong portfolio pick provided somebody has a medium to longer term horizon. In the shorter term, you could probably see a very range bound kind of movement.