Sell SBI with the Target Price of Rs 253
By providing banking services to the customers, State Bank of India has become the largest state-owned banking and financial services company in India. The bank also provides a range of financial services that include life insurance merchant banking, mutual funds, credit card factoring, security trading, pension fund management and primary dealership in the money market. It is known to operate in four business segments namely Treasury Corporate/ Wholesale Banking Retail Banking and Other Banking Business. The bank offers a range of banking products through their vast network of branches in India and overseas including products aimed at NRIs. The Government of India nationalized the Imperial Bank of India in the year 1955 with the Reserve Bank of India taking a 60% stake and name was changed to State Bank of India.
If you are holding the stock of SBI then it is time to sell the stock. Analysts have a sell call on State Bank of India with a target price of Rs 253.0.
The current market price of State Bank of India is Rs 264.0
Time period given by analyst is Intra Day when State Bank of India price can reach defined target veteran analysts recommended to keep stop loss at Rs 270. State Bank of India, incorporated in 1955, has a market cap of Rs 235609.11 crore.