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.
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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