Profit booking likely to see in SBI, says Diwan

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Profit booking likely to see in SBI, says Diwan

Profit booking likely to see in State Bank of India (SBI), says Prakash Diwan, Head - Institutional Clients Group, Asit C Mehta Investment.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by Prakash Diwan See what other Experts & Brokerages are saying about SBI See messages about SBI

Profit booking likely to see in State Bank of India (SBI), says Prakash Diwan, Head - Institutional Clients Group, Asit C Mehta Investment.

Diwan told CNBC-TV18, "SBI numbers allay all the fears that we had, particularly the NPA was a concerned and that's what comes through, but except for the treasury loss that has been a slight disappointment. I think numbers are very much in line with expectation, but the stock should see some kind of a profit booking from hereon. It's just kind of valid, the kind of run up that we have already seen for the last few days, I think we should expect some sort of a profit being taken of."

The company's trailing 12-month (TTM) EPS was at Rs 130.15 per share. (Dec, 2011). The stock's price-to-earnings (P/E) ratio was 16.36. The latest book value of the company is Rs 1023.40 per share. At current value, the price-to-book value of the company was 2.08. The dividend yield of the company was 1.41%.