Buy SBI With Stop Loss Of Rs 3232

Buy SBI With Stop Loss Of Rs 3232Sushil Finance is bullish on State Bank of India and has recommended 'buy' rating on the stock with a target of Rs 3260 in its latest research report.

According to Sushil Finance, the interested investors can buy the stock above Rs 3240 with a stop loss of Rs 3232.

The stock of the banking institution, on Oct 07, closed at Rs 3216.65 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 3299 and a low of Rs 1890 on BSE.

Current EPS & P/E ratio stood at 153.57 and 21.20 respectively.

Under its medium-term note plan, the State Bank of India has decided to lift up around $500 million via a non-dollar bond by next month (Nov 2010).

According to the source, "We are coming in the market to raise $500 million and it will be a non-dollar."

The bank has lifted $750 million under the MTN programme during October last year and lifted additional funds on two instances outside the MTN plan in the existing year.

For its retail investors, India's largest lender announced that it will roll out 1,000 crore bond issue on 13th or 14th of this month.

During the last month (Sep 2010), SBI increased its depository rates by 25-75 BPS w. e. f. October 1.