Stay invested in Bank of Baroda, says Sharmila Joshi

Sharmila Joshi of sharmilajoshi.com told CNBC-TV18, "In the last quarter we saw very bad set of numbers from Bank of Baroda and this quarter was definitely an improvement. But that it is an improvement over last quarter but it does not anyway signal that you are over that wall of that the asset concern that is there across public sector (PSU) banks. So, the stock did correct largely because Punjab National Bank (PNB) declared such bad numbers that lot of it dragged down a lot of other PSU banking stocks with it and then you saw a bit of a recovery. But that said you have to be a little cautious over the next couple of quarters over PSU banking as a space."

She further added, "This stock becomes a hold for me and the caveat here is that your waiting period should be 12-18 months and then the investors will see a better price."