Will buy SBI: Sandeep J Shah, Sampriti Capital
State Bank is something that is very closely on my radar screen and I would be looking to buy it but perhaps a little bit more of panic selling or perhaps in line with the market bottom.
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| Updated: Sandeep J Shah, CEO, Sampriti Capital, in an chat with ET Now, gives his views on SBI
Is State Bank of India a good contra buy at these levels. The stock is already down 10%?
Well just to put things in perspective I have been warning that every time a new bank Chairman comes, the first thing he does is he takes a broomstick. Sometime the sweeping is a little more aggressive. So to that extent given the fact that he has cleaned up the balance sheet that is obviously good news but the only concern I have is that on NIIs and gross NPAs those are issues which cannot be washed away with a new Chairman. So State Bank is something that is very closely on my radar screen and I would be looking to buy it but perhaps a little bit more of panic selling or perhaps in line with the market bottom.
Is State Bank of India a good contra buy at these levels. The stock is already down 10%?
Well just to put things in perspective I have been warning that every time a new bank Chairman comes, the first thing he does is he takes a broomstick. Sometime the sweeping is a little more aggressive. So to that extent given the fact that he has cleaned up the balance sheet that is obviously good news but the only concern I have is that on NIIs and gross NPAs those are issues which cannot be washed away with a new Chairman. So State Bank is something that is very closely on my radar screen and I would be looking to buy it but perhaps a little bit more of panic selling or perhaps in line with the market bottom.
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