Sell SBI With Stop Loss Of Rs 2790

Sell SBI With Stop Loss Of Rs 2790Technical analyst Salil Sharma has maintained 'sell' rating on State Bank Of India (SBI) stock with a target of Rs 2725.

The analyst said that the interested investors can sell the stock at around Rs 2770 with a stop loss of Rs 2790.

Today, the stock of the bank opened at Rs 2760.50 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 3515 and a low of Rs 2027 on BSE.

Current EPS & P/E ratio stood at 159.26 and 17.27 respectively.

As per recent news, State Bank Of India is ready to raise its base rate by 25 bps.

As per report, the country's biggest lender will lift up its base rate before the central banking institution's (RBI) yearly policy review planned for May 3.

The bank's base rate remains at 8.25%. This is the lowest among major banking institutions considering that the majority of PSUs have set their base rates at 9.5%.

The base rate of ICICI Bank, India's biggest private sector lender, stood at 8.75%.

SBI's top official said, "The decision will be taken in the asset-liability committee meeting this month."