Buy State Bank of India target of Rs 415: Sharekhan
Sharekhan is bullish on State Bank of India has recommended buy rating on the stock with a target price of Rs 415 in its research report dated January 31, 2020.
February 13, 2020 / 12:51 PM IST
Sharekhan's research report on State Bank of India
SBI’s Q3 FY20 results were strong with NII up by 22.4% y-o-y (versus our expectation of 16.9% y-o-y) and domestic net interest margin (DNIM) improved to 3.59%. Asset quality performance was encouraging, as net NPA ratio stood at 2.65%, while gross NPA ratio came in at 6.94%. We believe that an improving asset-quality outlook and better operating metrics in the PSU bank space are positives.
We maintain our Buy rating on the stock with a revised PT of Rs. 415.
For all recommendations report, click here
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