Buy SBI With Stop Loss Of Rs 2615
Technical analyst Rahul Mohinder has maintained 'buy' rating on State Bank of India stock with a target that lies between Rs 2690-2700.
According to analyst, the investors can buy the stock with a stop loss of Rs 2615.
Mr. Mohinder said that the said target can be attained in 2-3 trading sessions.
The stock of the bank, on March 16, closed at Rs 2642.85 on the Bombay Stock Exchange (BSE).
Current EPS & P/E ratio stood at 159.26 and 22.90 respectively.
The share price has seen a 52-week high of Rs 3515 and a low of Rs 2014.20 on BSE.
State Bank of India is all set to launch financial inclusion centres (FIC) in all the 23 regions of Andhra Pradesh and sign up biz reporters and biz facilitators in each and every village.
While lecturing after formally kicking off the FIC at Tadepalli division, Hyderabad circle chief general manager, Rakesh Sharma stated that the biz correspondents or facilitators would work as the delegates of SBI in their particular villages in opening bank accounts, lending and other banking actions.
In addition, the bank announced that it has lifted up Rs 5,496.9 crore from retail bonds to finance its growth programs.
The banking institution has granted authorization for issue and allocation of 7,31,078 Series 3 Lower Tier-II Bonds having nominal value Rs 10,000 each and 47,65,918 Series 4 Lower Tier-II Bonds with par value Rs 10,000 to the entitled candidates, during the initial tranche.
Jointly 54,96,996 candidates obtained bonds worth Rs 10,000 each and accordingly lifted up Rs 5,496.9 crore.