For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

SBI Shares Drag Over 3% After Ratings Downgrade

|

Shares of State Bank of India in intra-day trade on Wednesday are trading on a weak note. The stock fell over 3% to an intraday low of Rs. 292.10, down almost 3.4% from the previous closing price of Rs. 302.45 shares apiece on the BSE.

SBI Shares Drag Over 3% After Ratings Downgrade
 

The fall in shares may be a reaction to the ratings downgrade by Morgan Stanley which rates it to be 'equal-weight' from the previous 'overweight' rating. The target price has been kept at Rs. 330 per share. Further the global brokerage firm added that the upside gains in the stock are limited owing to the uncertainty around interest margin and asset quality.

Meanwhile, benchmark indices trade lower on the back of weakness in most Asian shares after the US lawmakers prepare to begin an impeachment inquiry into the US President Donald Trump.

SBI stock was last seen quoting at Rs. 292.40, down 3.32% or Rs. 10.05.

GoodRetrurns.in

Story first published: Wednesday, September 25, 2019, 10:17 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more