28/08/2020 Brokerages turn bullish on SBI on attractive valuation; see 20-44% upside | Business Standard News

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Brokerages turn bullish on SBI

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on attractive valuation; see 20-44%

upside
From its recent low of Rs 150.85 apiece (closing basis) touched on May 22, 2020, the stock has rallied 39 per
cent on the BSE, data show

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sbi | UBS | Goldman Sachs

Nikita Vashisht  |  New Delhi 

Last Updated at August 28, 2020 10:19 IST

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28/08/2020 Brokerages turn bullish on SBI on attractive valuation; see 20-44% upside | Business Standard News

The Mumbai-headquartered bank clocked 81.18 per cent rise in its net pro t to Rs 4,189.34 crore

STATE BANK OF INDIA

STOCK PRICE - CLICK HERE FOR India’s largest state-owned, bank State Bank of India (SBI), is seeing
MORE back-to-back upgrades by brokerages – both foreign and domestic.
Attractive valuation relative to private peers, improving situation of
BSE 224.85 9.10 (4.22%)
the nancial sector, and timely support from the government and
NSE 224.85 9.20 (4.27%) the Reserve Bank of India (RBI) in the wake of Covid-19 pandemic is
instilling con dence in analysts besides impressive June 2020

BSE NSE quarter (Q1FY21) numbers. (See table below)

226 The Mumbai-headquartered bank clocked 81.18 per cent rise in its
224
222 net pro t to Rs 4,189.34 crore, as against Rs 2,312.2 crore reported
220
218 in the June quarter of FY20. Its pre-tax pro t for the quarter was up
216
36.8 cent to Rs 5,559.7 crore.
12:03 15:01

The bank said its loans under moratorium were 9.5 per cent at the
1D 5D 1M 6M 1Y 2Y end of June, 2020 quarter compared with 23 per cent at the end of
March quarter of FY20.

ALSO READ From its recent low of Rs 150.85 apiece (closing basis) touched on
Goldman Sachs upgrades May 22, 2020, the stock has rallied 39 per cent on the BSE, as
SBI to 'Buy', ups target price against 27 per cent gain in the benchmark S&P BSE Sensex till
by 54%; here's why
Wednesday, BSE data show. And there is still some more steam
IndusInd Bank jumps 4% as left, brokerages believe. From the current price around Rs 216
Goldman Sachs buys stake; apiece, the one-year return could range between 20 per cent and
stock up 12% in 3 days
44 per cent as per brokerages estimates.
SBI Q4 preview: SBI Cards
stake sale to aid
pro tability; NPA levels eyed

SBI Q1FY21 preview: Stake

sale gain from SBI Life to
cushion Covid-19 blow

Bank stks in focus; Nifty

Bank adds over 2.5%; IDFC
First gains 7%, SBI 2%

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BROKERAGES' DARLING
What has made SBI a favourite among brokerages
once again?
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First Published: Fri, August 28 2020. 07:54 IST

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