Sell ABG Shipyard, prefer SBI: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "In ABG Shipyard selling would be a better decision for allocation of capital because you can stay invested hoping that some day it will recover but it may not. It may turn out to be another Kingfisher in the making or something. However, if I were in his shoes actually I would switch. May be I would switch to State Bank of India and I would buy that on declines upto Rs 230 keeping a stoploss below Rs 200. My target would be Rs 275-315 for the medium term. So, switch from ABG Shipyard to State Bank of India if you like."State Bank of India ended at Rs 246, up Rs 2.80, or 1.15 percent on the BSE.