Reduce PNB; invest in SBI, Bank of Baroda: Gaurang Shah

Gaurang Shah of Geojit Financial Services told CNBC-TV18, "We have a reduce recommendation on Punjab National Bank (PNB) and that is primarily because the exposure of loan book as far as the vulnerable sectors are concerned, especially the metal pack is relatively much higher and some of the names which are there concerns us in terms of a recovery process."

"In the public sector bank, if you do like to invest, State Bank of India and Bank of Baroda are two choices that I can immediately short list and think of. Preferably Bank of Baroda given that today, we saw the stock move up close to about Rs 165 and then, it has corrected a little bit. We have a target of somewhere close to about Rs 200-210 if I am not mistaken, long term that is," he added.