SBI has target of Rs 3150-3200: Mithil Pradhan

SBI has target of Rs 3150-3200 from current levels, says Mithil Pradhan, Technical and Derivatives Analyst.

Pradhan told CNBC-TV18, "If you look at SBI, we were bearish as long as it was not crossing Rs 2,900 levels but in my experience whenever a price cluster as strong as we have seen in SBI breaks out usually the stock goes up anything between 10-15%. When we do look at the other banking stocks they are creating a similar structure. So I would bank on something close to 10%. I am having a target area of about Rs 3,150-3,200 from current levels."
SBI trailing 12-month (TTM) EPS was at Rs 159.22 per share. (Dec, 2010). The stock's price-to-earnings (P/E) ratio was 18.36. 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 2.81. The dividend yield of the company was 1.03%.