Buy SBI, target Rs 245: Dharmesh Kant
The clean-up continues while adjusted core operating performance for the quarter ended March 2016 was largely in line with estimates.
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| Updated: Dharmesh Kant, Head - Retail Research, MOSL maintains a buy rating on SBI with a 12-month target price of Rs 245.
The clean-up continues while adjusted core operating performance for the quarter ended March 2016 was largely in line with estimates. Going forward, as the economy gathers strength on account of better monsoons and various policy initiatives start delivering, we expect SBI to have the best advantage.
We like SBI for its lowest net stressed loans (NSL) at 6.4 per cent, relatively better PCR of 60 per cent, healthy capitalisation and focus on core operating profitability. SBI is highly geared with economic up cycle.
The clean-up continues while adjusted core operating performance for the quarter ended March 2016 was largely in line with estimates. Going forward, as the economy gathers strength on account of better monsoons and various policy initiatives start delivering, we expect SBI to have the best advantage.
We like SBI for its lowest net stressed loans (NSL) at 6.4 per cent, relatively better PCR of 60 per cent, healthy capitalisation and focus on core operating profitability. SBI is highly geared with economic up cycle.
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