Why 'Hold' feels stuck and why we're slow to pull trigger

Mr Goyal has been with us for two decades. When someone with that kind of loyalty questions our ‘Hold’ vs ‘Sell’ philosophy, I owe him and all of you a straight answer. His concern is clear: SBI Small Cap is at ‘Hold.’ It forms 60 per cent of his small-cap allocation. He can't add fresh capital to it, but we're not telling him to sell either. Meanwhile, he's noticed ‘Sell’ ratings are rare at Value Research. Funds sit in hold for years

This article was originally published on February 16, 2026.