Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessStocks

Buy State Bank of India; target of Rs 246: Geojit

Geojit recommended is bullish on State Bank of India has recommended buy rating on the stock with a target price of Rs 246 in its research report dated August 06, 2020.

October 15, 2020 / 10:35 AM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Geojit's research report on State Bank of India

Operating profit came in at Rs. 18,061cr (+36.35% YoY) primarily on higher interest income; PAT rose 81.2% YoY to Rs. 4,189cr. GNPA/NNPA ratio improved to 5.44%/1.86% (vs. 6.15%/2.23% in Q4FY20); Slippages down to 0.60% (vs. 1.41% in Q4FY20). Share of alternate channels in total transactions has increased from 90% in Q1FY20 to 93% in Q1FY21. The bank saw a 33.0% increase in loan processing fee indicated an uptick in the loan disbursements. Backed by a well-diversified loan portfolio and strong balance sheet with lower exposure to high risk sectors, we believe that the bank's valuation remains attractive.

Outlook

Hence, we reiterate our BUY rating on the stock with a revised target price of Rs. 246 (SOTP).

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Aug 9, 2020 09:01 am

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347