Buy State Bank of India on dips, says Neeraj Dewan

Neeraj Deewan of Quantum Securities told CNBC-TV18, "State Bank of India (SBI) is a buy. I have been bullish on the stock for some time now but Rs 225-230 is when we initiated our long buy calls for clients though it is already down 10 percent from those levels. I think in all dips State Bank of India can be bought because for over 1-1.5 years you can get very decent returns from a PSU bank like SBI."State Bank of India closed at Rs 204.30, down Rs 4.65, or 2.23 percent. It has touched a 52-week low of Rs 202.65.