Buy SBI and Cipla: KR Choksey
Technical House KRChoksey has suggested buy call for SBI. The stock is good for long term. SBI is pioneer in Indian banking Public sector. The stock has touched 52-week high and low of Rs 2657 and 1571 respectively.
SBI is trading currently with a P/E ratio of 16. Market expert Dilip Bhat has also suggested buy call for State Bank of India.
Pharmacetical major Cipla is good defensive bet at current levels, as per market experts at KR Choksey. The recently declared results of Cipla were as per market expectations. The net profit for Q4 was up by 36.5 per cent at Rs 292 crore compared to same quarter previous year.
Cipla has recently reduced the price of three cancer drugs in India. The company has plans to reduce price for six more drugs in coming months. This will give a boost to sales while the margins are expected to come under pressure.
CLSA has also uprgaded Cipla to outperform. CLSA has given a target price of Rs 360 for the stock. The stock has touched 52-week high of Rs 359 and is currently trading at Rs 321 on NSE with a P/E ratio of 23.