Sell SBI, target of Rs 1260: India Infoline

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Sell SBI, target of Rs 1260: India Infoline

India Infoline has recommended a sell rating on State Bank of India (SBI) with a target of Rs 1260. In Q1 FY09, gross NPLs for SBI declined by 16% qoq in value terms and the ratio declined to 2.5% from 3.2% in Q4 FY08.

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India Infoline has recommended a sell rating on State Bank of India (SBI) with a target of Rs 1260 in its September 29, 2008 research report. "In Q1 FY09, gross NPLs for SBI declined by 16% qoq in value terms and the ratio declined to 2.5% from 3.2% in Q4 FY08.Going ahead, performance of core assets such as SME loans, vehicle loans and housing loans would be under serious threat as interest rates continue to mount and demand slows down leading to rise in NPLs. We recommend a Sell with a target price of Rs 1260," says India Infoline's research report.

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