SBI has target of Rs 1290-1340: N Pillai

Neppolian Pillai of Modern Shares & Stock Brokers is of the view that SBI has target of Rs 1290-1340.

Pillai told CNBC-TV18, "State Bank of India even yesterday after fundamental news that it may have to write-off about Rs 700 crore in terms of bond evaluations till it went up that shows the resilience of the stock. So any day, I mean State Bank of India, ICICI Bank, Axis Bank that would be on my buy list. On the upside I would expect close to around Rs 1,290 to Rs 1,340 kind of target for the stock. On the bottom Rs 1,020 will be a crucial support but keep buying the dips it will give an upside."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.