Stocks To Buy, Hold: Sharekhan Assigns Buy, Hold Ratings To 2 PSU Banking Stocks

Brokerage firm Sharekhan has recommended investors to buy State Bank of India and hold Punjab National Bank. The analyst has assigned buy rating to SBI with a target price of Rs 710 apiece and a potential return of 19%. Sharekhan has given hold rating to Punjab National Bank with a target price of Rs 52 apiece. Check key takeaways below:

1. Buy State Bank of India

The current market price of SBI is Rs 598 apiece after an intraday fall of 0.76%. The stock's 52-week high is quoted at Rs 622 apiece and 52-week low is quoted at Rs 425 apiece, respectively. It has a market capitalisation of Rs 5,33,736.40 crore.

The stock has given a return of 81% in last 5-years, 80% in last 3-years, and 19% in last 1-year. It has jumped 15% in last 1-month. The PSU Banking company was incorporated in 1955.
Sharekhan has assigned buy call to SBI stock.

If you buy SBI today, you will get potential return of 19%. According to Sharekhan, "Increased our FY2023E/24E earnings estimates factoring in margin improvement & lower credit cost."

2. Hold Punjab National Bank

The current market price of PNB is Rs 47 apiece with an intraday surge of 3.82%. The stock's 52-week high is Rs 47 apiece and 52-week low is Rs 28 apiece, respectively. The company has a market capitalisation of Rs 52,412.43 crore.

The stock has declined 74% in last 5-years, 25% in last 3-years, and gained 14% in last 1-year. The company was incorporated in 1969.

Sharekhan has assigned hold rating for PNB with a target price of Rs 52 apiece and said PNB has "retained earning estimates."

Disclaimer

The stocks have been picked from the brokerage report of Sharekhan. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.