SBI can test Rs 2050-2000: Chaturmuhta

SBI can test Rs 2050-2000, says Ashish Chaturmuhta, VP Derivatives and Technical, IIFL Private Wealth.

Chaturmuhta told CNBC-TV18, "In these counters we are not seeing any major short covering particularly in State Bank or PSU banks. As far as State Bank is concerned, there can be a minor support around Rs 2,150-2,200 levels but seems difficult that these levels can hold and on downside this counter is poised to move towards Rs 2,050-2,000 levels."
SBI trailing 12-month (TTM) EPS was at Rs 130.15 per share. (Mar, 2011). The stock's price-to-earnings (P/E) ratio was 16.82. The latest book value of the company is Rs 1168.72 per share. At current value, the price-to-book value of the company was 1.87. The dividend yield of the company was 1.37%.