This PSU Bank Is Standing Tall Amid Global Turmoil, Sharekhan Says Buy For 39% Return

Sharekhan has assigned buy call to leading PSU bank stock, State Bank Of India with target price of Rs 710. SBI remains the analyst's top pick among PSU banks. Last trading price of SBI is Rs 512.70 apiece with intraday fall of 1.69% on BSE. It delivered 4% return in last 1-year and 182% in last 3-years. Check details below:

State Bank Of India Share Performance & Return: Last trading price of SBI is Rs 512.70 apiece. Its 52-week high is Rs 629.65 apiece and 52-week low is Rs 430.80 apiece, respectively. Its market capitalisation is Rs 4,57,564.85 crore. SBI share delivered return of 37% in last 2-years and 118% return in last 5-years.

State Bank Of India Valuation: According to Sharekhan, "Balance sheet is strong, and the bank is well-positioned to gain market share on the business front. SBI's strong deposit franchise and better performance from subsidiaries are likely to favour the business. We see further upside risk to margins, which should lead to a sustainable core ROA trajectory of ~1% in the near to medium term. We maintain our Buy rating on SBI with an unchanged price target (PT) of Rs. 710. SBI remains our top pick among PSU banks."

State Bank Of India About: SBI is the largest public-sector bank in terms of assets, deposits, branches, number of customers, and employees having pan-India presence. The bank has been designated by the Reserve Bank of India (RBI) as a domestic systemically important bank (D-SIB), which means that its continued functioning is critical for the economy. The bank is well-placed to gain market share, driven by strong balance sheet strength.

Disclaimer: The stock has 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.