Sandip Sabharwal on why Nasdaq is at a 52-week high

​SBI, of course, the kind of huge increase in operational cost plus the concerns related to the new norms RBI is coming out with and its impact on PSU banks is impacting SBI and other PSU banks in the short term because what happens is that the lesser write-offs, high margin expansion, etc, will help you at current times when operating expenses went up so much could shield that but as growth slows down and as margins also peak out, high operating cost increases will lead to reduced profitability increases.