Buy State Bank of India, target price Rs 192: Shrikant Chouhan

The analyst suggested a stoploss at Rs 182.

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Shrikant Chouhan of Kotak Securities Limited has a buy call on State Bank of India with a target price of Rs 192.0. The current price of State Bank of India is Rs 185.25 Time period given by the analyst is Intra Day when State Bank of India price can reach defined target. . Shrikant Chouhan recommended to keep a stoploss at Rs 182 .

State Bank of India, incorporated in 1955, has a market cap of Rs 165328.43 crore.

Investment Rationale


The stock is trading comfortably above short term and medium term averages.

Quarterly Results
SBI-June262020
Source: ETMarkets.com

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Financials

For the quarter ended March 31, 2020, the bank reported consolidated interest income of Rs 44170.77 crore, down -10.89 per cent from last quarter Interest Income of Rs 49570.01 crore and up 0.70 per cent from last year same quarter Interest Income of Rs 43863.23 crore. The bank reported net profit after tax of Rs 4557.89 crore in the latest quarter.

Promoter/FII Holdings

Promoters held 57.63 per cent stake in the company as of March 31, 2020, while FIIs held 9.59 per cent, DIIs 24.66 and public and others 8.12 per cent.
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