Hold SBI; target 3000: Avinash Gupta

Avinash Gupta, Assistant Vice President Research Equity, Bonanza Portfolio Limited in an interview with ET Now talks about SBI.

What would you do with State Bank of India now after seeing the run up that we have seen in the stock?

I must disclose that I have State Bank of India in my portfolio. This stock we consider as a proxy to the Indian economy. If Indian economy is growing at 8% there is no reason why State Bank would not growing at a decent pace. Of course the results have been much better than expectations and we will go back to the drawing board to see we can rerated the stock. At the moment I mean till the time you have gone through the fine print we maintain a hold on the counter.