Prefer PNB, Union Bank, BoB, SBI: Sandip Sabharwal

Sandip Sabharwal of asksandipsabharwal.com told CNBC-TV18, "I would go by the larger ones like Punjab National Bank (PNB), Union Bank of India, Bank of Baroda (BoB) followed by State Bank of India (SBI), that should be the pecking order. This is not the time to be negative on PSU banks. I think all the negatives are in. What the NPAs and all have been spoken about, those were discounted much before. So the key is a year later we might be thinking about very different thinks where the lot of bond profits would have come in to their balance sheets, lot of these write offs would have happened, balance sheet would be much cleaner and that is how investors should take PSU banks from here on."At 10:47 hrs State Bank of India was quoting at Rs 276.80, up Rs 8.35, or 3.11 percent. It has touched an intraday high of Rs 278.40 and an intraday low of Rs 270.60.