Mon. Jun 14th, 2021

Kotak Securities Limited has buy call on State Bank of India with a target price of Rs 445. The current market price of State Bank of India is Rs 432.25. Time period given by analyst is Intra Day when State Bank of India price can reach defined target.

State Bank of India, incorporated in the year 1955, is a banking company (having a market cap of Rs 385766.33 Crore).

For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 103430.64 Crore, up 6.43 % from last quarter Total Income of Rs 97182.15 Crore and up 9.78 % from last year same quarter Total Income of Rs 94218.82 Crore. The bank reported net profit after tax of Rs 6125.52 Crore in latest quarter.

Investment Rationale
The stock is into a strong uptrend as it constantly finds support near the short-term moving averages resulting in the bullish continuation chart formation.

Promoter/FII Holdings
Promoters held 56.9 per cent stake in the company as of March 31, 2021, while FIIs held 11.1 per cent, DIIs 24.3 per cent and public and others 7.7 per cent.

(Views and recommendations given in this section are the analysts’ own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.)

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