Stock market analysts have maintained 'buy' rating on State Bank of India Ltd with an intraday target of Rs 2319.

According to them, interested traders can purchase the stock with a strict stop loss of Rs 2274.

If the stock markets remain on the positive path then the stock price will hit a target above Rs 2335.

Shares of the company, on Monday (Dec 09), closed at Rs 2294.30 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 2500 and a low of Rs 894 on BSE.

Current EPS & P/E ratio of the stock stood at 158.16 & 14.58 respectively.

India's biggest public sector lender, State Bank of India (SBI) is all set to introduce no-frills savings account project, which can be managed via cellular phones, in Mumbai and Punjab by the next two months.

The said project was introduced by the banking institution and Eko Aspire Foundation on a pilot basis in the capital.

SBI, on Dec 04, announced that its JV Co in collaboration with Insurance Australia Group (IAG) is likely to start commercial functioning during the first half of 2010 subject to final authorizations from IRDA.

On the same day, SBI entered into a MoU with auto manufacturer Honda Siel Cars India for offering up retail financing to its clients.

Under the contract, SBI will be the preferred financier for the complete variety of vehicles marketed by HSCI.