Buy SBI, target of Rs 1605: Motilal Oswal
Motilal Oswal has maintained its buy rating on State Bank of India (SBI) with a target of Rs 1605 in its January 24, 2009 research report. “SBI 3QFY09 PAT at Rs 24.8 billion is in line with our estimates. Key highlights of the results are: (1) deposits growth at 36% YoY and 12% QoQ, savings deposits growth at 27% YoY and 5% QoQ, contained cost of deposits and sustained margins QoQ; (2) a strong fee growth of 57% YoY and 3) 100bp improvement in provision coverage QoQ to 48% (remains low though).”
“We expect SBI to report consol EPS of Rs179 in FY09 and Rs 196 in FY10. Consol ABV would be Rs 1,018 in FY09 and Rs 1,134 in FY10. Adjusted for SBI Life�s value of Rs 130 per share, the stock trades at 0.8x FY10E Consol ABV. Maintain Buy with a target price of Rs 1,605 � an upside of 53%,” says Motilal Oswal’s research report.
source: Moneycontrol
Tags: calls, daytrading, free calls, intraday, tips
Similar Posts:
Latest Query
- by Sam
Market Stats
Search Our Archives
Research Desk
- Stocks Trading above their 50 day moving average - DMA In Stock Research
- Download free Ebooks based on Technical Analysis In Personal Training
- TOP 100 Stocks with the Highest P/E as on July 14th, 2013 In Stock Research
- TOP 100 Stocks with the Lowest P/E as on July 14th, 2013 In Stock Research
- Charting Pathsala - Your guide to Techincals In Technical Analysis
