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    HomeNewsBusinessStocksBuy State Bank of India; target of Rs 280: Motilal Oswal

    Buy State Bank of India; target of Rs 280: Motilal Oswal

    Motilal Oswal is bullish on State Bank of India has recommended buy rating on the stock with a target price of Rs 280 in its research report dated June 06, 2020.

    Broker Research
    June 09, 2020 / 13:40 IST
       
       
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      Motilal Oswal 's research report on State Bank of India

      SBIN reported a modest quarter with weak NII growth (affected by higher interest reversals on Agri slippages), although stake sale gains from its cards subsidiary supported earnings. Slippages were at a four-quarter low, supported by the RBI dispensation, resulting in improved asset quality. The moratorium book at ~23% of total loans surprised positively.

      Outlook

      We cut our estimates for FY21/FY22 by 17%/16% as we build-in a slight moderation in margins / fee income and higher credit cost and project RoA/RoE of 0.5%/9.5% by FY22. Maintain BUY, with a TP of INR280 (0.7x FY22E ABV).

      For all recommendations report, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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      Broker Research
      first published: Jun 9, 2020 01:40 pm

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