Sharekhan is bullish on State Bank of India has recommended buy rating on the stock with a target price of Rs 390 in its research report dated May 10, 2019.
Sharekhan's research report on State Bank of India
State Bank of India (SBI) posted strong results for Q4 FY19 where while its topline and operational performance were in line with expectations, but the sharp improvement in asset quality was the key notable. Net interest margin (NIM) improved by 28 bps sequentially to 2.95% helped by strong domestic advances growth. Along with reduction in GNPAs its provision coverage ratio (PCR) at 78.7% is amongst the best in industry and a strong positive.
We maintain our Buy rating on the stock with revised PT of 390.
For all recommendations report, click here
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