HomeNewsBusinessStocksBuy State Bank of India; target of Rs 335: ICICI Direct
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Buy State Bank of India; target of Rs 335: ICICI Direct

ICICI Direct is bullish on State Bank of India has recommended buy rating on the stock with a target price of Rs 335 in its research report dated May 22, 2017.

May 23, 2017 / 17:11 IST
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It seems that nationwide lockdown has not much impacted the fertilizer sector. In May 2020, the Indian Fertiliser industry has witness sales growth of 25% to 5 million tonnes as compared to 4 million tonnes in the same month last year.  Coromandel International and Chambal Fertilisers have seen major sales growth in the sector. The research firm Prabhudas Lilladher is bullish on 5 stocks in the sector and among that they expect stock Insecticides India may see the upside of 82 percent, report dated June 09, 2020.
It seems that nationwide lockdown has not much impacted the fertilizer sector. In May 2020, the Indian Fertiliser industry has witness sales growth of 25% to 5 million tonnes as compared to 4 million tonnes in the same month last year.  Coromandel International and Chambal Fertilisers have seen major sales growth in the sector. The research firm Prabhudas Lilladher is bullish on 5 stocks in the sector and among that they expect stock Insecticides India may see the upside of 82 percent, report dated June 09, 2020.

ICICI Direct's research report on State Bank of India

An in line performance on asset quality with slippages at Rs 9755 crore and QoQ addition in GNPA at Rs 4170 crore kept sentiments positive. Absolute GNPA was at Rs 112342 crore. GNPA ratio improved 33 bps QoQ at 6.9%, led by B/S growth.

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Outlook

Non-banking subsidiaries add Rs 35 to our SoTP. Strategic stake in non-core investments like NSE (5.19%), BSE (4.75%), NSDL, ARCIL, etc, may add further value not factored in by us. We maintain our target price of Rs 335 and reiterate BUY on SBI.

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