Buy State Bank of India; target of Rs 375: Motilal Oswal

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.

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26 Aug, 2025 12:21

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Motilal Oswal's research report on State Bank of India

Net slippages fell marginally QoQ, but remained elevated at INR 81.6b (net slippage ratio 2.2% annualized) v/s INR 82.9b in 3Q. Strong operating profitability allowed SBIN to take higher provisions (INR 117.4b; INR 89.4b in 3Q). Absolute NNPA thus fell 5% QoQ to 3.7% of loans (3Q: 4.2%).

Outlook

SBIN is highly geared to economic up cycle and asset quality improvement. Profitability is likely to be the highest among peers due to its policy of recognizing stress upfront and lumpy exposures. Strategic and financial investments are becoming meaningful and add 18% to our SOTP. Buy.

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