Buy State Bank of India, target Rs 355: Kunal Bothra

Buy State Bank of India at a price target of Rs 355.0 and a stoploss at Rs 338 from entry point.

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Independent analyst Kunal Bothra has a buy call on State Bank of India with a target price of Rs 355. The current market price of State Bank of India is Rs 344.6. Time period given by the analyst is Intra Day when State Bank of India price can reach the defined target. Kunal Bothra recommended to keep stoploss at Rs 338. State Bank of India, incorporated in 1955, has a market cap of Rs 307542.11 crore.

State Bank of India key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 141363.17 Crore to Sales Value (64.11 % of Total Sales), Income From Investment which contributed Rs 70337.62 Crore to Sales Value (31.89 % of Total Sales), Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 6548.53 Crore to Sales Value (2.96 % of Total Sales) and Interest which contributed Rs 2250.00 Crore to Sales Value (1.02 % of Total Sales)for the year ending 31-Mar-2018.

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs .00 Crore (.00 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs .00 Crore (.00% of total assets). For the quarter ended 31-03-2019, the company has reported a Consolidated Interest Income of Rs 43863.23 Crore, up 2.32 % from last quarter Interest Income of Rs 42868.52 Crore and up 24.79 % from last year same quarter Interest Income of Rs 35150.82 Crore. The bank has reported net profit after tax of Rs 1550.43 Crore in latest quarter.
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