Top Preferred Picks! Sharekhan Places Buy On 2 PSU Banking Stocks, Sees Upto 25% Gains

Broking firm Sharekhan maintains its Positive outlook on the banking sector. Picks two PSU banking stocks - State Bank Of India (SBI) and Punjab National Bank (PNB) - as top preferred picks. The stocks are likely to give a positive return of up to 25% if purchased at the current market price.

1. State Bank Of India (SBI)

Sharekhan assigns a target price of Rs. 710/share on the stock, claiming a potential upside of 23% from its current level.

On Friday, the stock last traded at Rs. 578.70/share, down 1.67% from its previous close of Rs. 588.50/share on NSE.

The stock has fallen 1.45% in the past 1 week. It has given 23.93% positive return in 1 year. It gave 213.74% in 3 years. It gave 111.98% in 5 years.

The stock recorded its 52 week high on 15th December 2022 at Rs. 629.55/share and its 52 week week on 20 June 2022 at Rs. 430.70, respectively.

2. Punjab National Bank (PNB)

The brokerage has assigned a target price of Rs. 64/share on the stock of PNB with a Buy rating. It claims a potential upside of up to 25% from its current level.

The stock last traded at Rs. 51.35/share, down 1.15% from its previous close of Rs. 51.95/share on NSE.

The stock declined 1.82% in the past 1 week. It gave 65.11% positive return in the past 1 year and 61.48% in the past 3 years, respectively. It has given a 43.23% negative return in the past 5 years.

The stock traded the 52 week high on 15 December 2022 at Rs. 62/share and 52 week low on 20 June 2022 at Rs. 28.05/share, respectively.

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 consult with certified experts before making any investment decision.