Do not sell PSU bank stocks at current levels, advises Siddharth Purohit

Purohit adds that growth for the private sector could also taper down a bit in the quarters to come

PSU banking stocks have seen a huge correction in the past few weeks, but Siddharth Purohit, research analyst at SMC Institutional Equities, won’t suggest selling at the current levels. In an interview with Pranati Deva, Purohit says that growth for the private sector could also taper down a bit in the quarters to come.Edited excerpts:
 
How long do you think the developments in the banking sector would impact the overall markets?
 
The banking sector in India was already facing issues with regard to high non-perforing assets (NPAs). And, with higher scrutiny going ahead, the credit offtake could slow down and impact