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Last Updated : Aug 07, 2020 02:11 PM IST | Source: Moneycontrol.com

Buy State Bank of India; target of Rs 280: Sharekhan

Sharekhan 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 July 31, 2020.

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Sharekhan's research repor on State Bank of India

State Bank of India (SBI) posted encouraging results with asset-quality improvement on a sequential basis, and performance aided by one-time gain of Rs. 1,539 crore from stake sale benefit of the subsidiary. Asset-quality performance was robust and GNPA at 5.44% (down 209 bps y-o-y and 71 bps q-o-q) improved significantly. Moratorium book was at 9.5% of term loans versus 23% earlier, of which ~2% was comprised of AA and AAA rated corporate borrowers, which is encouraging. At <1x its FY2022E BVPS, valuations are attractive.


We maintain our Buy rating on the stock with a revised PT of Rs. 280.

For all recommendations report, click here

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First Published on Aug 7, 2020 02:11 pm