Both Vaibhav Agarwal of Angel Broking and Kajal Gandhi of ICICI Direct say that they would rather buy the SBI stock as compared to any of the three listed SBI subsidiaries. Recently, market participants have started talking about buying the subsidiaries to play the eventual merger. Agarwal and Gandhi point to the uncertain timelines and lack of clarity on the countours of the merger when it happens for their preference to the parent rather than the subsidiaries.
