Recommend a buy on SBI: Gajendra Nagpal, Unicon Financial

Gajendra Nagpal, CEO, Unicon Financial, in a chat with ET Now talks about SBI.

What’s your outlook on SBI and which direction do you estimate this stock will take?

I am reasonably bullish. I am rather very bullish on SBI as a stock. We have been observing that banking stocks have been falling less when the markets have been falling and they tend to outperform the market when the markets go up. So to that extent, there is an inherent strength that they have observed in all the banking stocks from institutional side.

So SBI being the leadership bank, their cost of deposit and we also know their execution skill set - we have a very able leadership at the SBI at the helm. So these things put together make me to believe that SBI is going to reward shareholders with a medium-to-long term perspective. I would recommend a buy on the counter.