Nirmal Bang Research has suggested investors to 'sell' State Bank Of India (SBI) stock as there are full chances of a downward trend in this stock in the coming days.

According to report, investors can sell the stock with a strict stop loss of Rs 1,345 to achieve a target that lies between Rs 1,305-1,255.

Today (July 13), the stock opened at Rs 1533.50 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 143.67 and 10.89 respectively. The share price has seen a 52-week high of Rs 1935 and a low of Rs 894 on BSE.
 
The report also suggested that it’s profitable to sell the stock at the said level as the counter is under huge pressure.

The report added if the stock fell below Rs 1,250, it may see more weakness. So the investors must sell SBI stock.

After selling the stock, the interested investors can purchase the stock again at a low price, for medium term prospective to make good profits.

On July 09, Insurance Regulatory and Development Authority (IRDA) has given an in-principle authorization to SBI for its projected non-life joint venture (JV) with IAG of Australia.

On July 07, the planned merger of the State Bank of Indore with SBI is on according to the plan, but the amalgamation of other associate banking institutions have been postponed.

SBI at first owned 7 associates and with the combination of State Bank of Indore, the figure would fall to 5.

Previously, SBI had declared its plans to unite its smallest associate, State Bank of Indore, after respective boards passed decisions to this effect.

SBI, on July 01, launched a new home loan plan under which it provide loans up to Rs 3 million at fixed interest rates of 8% for the initial year and 9% for the next two years.

As per the plan, clients will have two alternatives during the fourth year, a floating rate at 2% below State Bank Advance Rate (SBAR) that presently stands at 11.75%, or a fixed rate of 1% below SBAR with a five year re-set.

A re-set indicates new rates will come into existence by the completion of the particular period.