Technical analyst Anil Singhvi has maintained 'buy' rating on State Bank of India (SBI) stock with an intra-day target of Rs 2585.

According to analyst, the stock can be purchased on dips with a stop loss of Rs 2475.

The stock of the company, on January 14, closed at Rs 2502.25 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 3515 and a low of Rs 1890 on BSE.

Current EPS & P/E ratio stood at 153.76 and 16.39 respectively.

State Bank Of India (SBI) has introduced a novel idea, 'Bank on Bike', with the aim to stretch out its services to the unbanked millions.

Cheriyal in Medak region of Andhra Pradesh, turned the primary Indian village to receive 'Bank on Bike', which is based on the concept of mobile banking.

Shiva Kumar, deputy managing director, SBI-AP Circle inaugurated the new scheme, which will help people to enjoy banking services.

This novel idea has been launched to wrap up more villages at less cost.

Moreover, State Bank of India inked a joint venture (JV) deal with telecom giant Bharti Airtel to make banking services accessible to the country's unbanked population.