Buy SBI on dips: Baliga

Buy SBI on dips, says Ambareesh Baliga, COO, Way2Wealth.

Baliga told CNBC-TV18, "In banking stocks with more downgrades coming, we could see lower levels, but nonetheless, in fact we have started buying because it is surely time to start nibbling in. For example the stock like SBI which I was telling you in fact we have already started buying but I do not really rule out levels of around Rs 2475-2500 levels, in case it goes to those levels in fact we will buy more."
The company's trailing 12-month (TTM) EPS was at Rs 159.22 per share. (Dec, 2010). The stock's price-to-earnings (P/E) ratio was 16.45. The latest book value of the company is Rs 1038.57 per share. At current value, the price-to-book value of the company was 2.52. The dividend yield of the company was 1.15%.