Accumulate SBI: Pankaj Pandey, ICICI Direct

Pankaj Pandey, Head of Research, ICICI Direct, in a chat with ET Now, talks about SBI


What’s your call on SBI post numbers?

Our analysis of numbers suggest that the bank is going to take a hit of about Rs 150 from the book value, and the bank command usually two times a book value, so on that basis about 300 is what we would see the impact of the numbers on the prices and which we feel that more or less is factored in, so given that we feel that there will be limited downsides from hereon or if downsides still play, it will be there. It would be more because of the market factors, so one should look at accumulating this stock probably at current levels or at 5-7% down levels from hereon and with a target price of about Rs 2700.