SBI

Interest rates may increase in coming months: SBI

State Bank of IndiaO. P. Bhatt, the Chairman of State Bank of India, while addressing a Federation of Indian Chambers of Commerce and Industry (FICCI) conference, said that high interest rates are necessary for the growth of banking system.

Mr. Bhatt said: "Depending on the speed of growth of assets, a change in the economic cycle and if there is increased growth, interest rates may increase between 25 and
100 basis points once the busy season sets in."

Bank unions postpone July 6 strike

Bank unions postpone July 6 strikeThe bank unions, who were to go on nation-wide strike in connection with proposed merger of SBI and the State Bank of Indore, have decided to defer the nationwide strike on July 6, expecting a meaningful solution in the talks between managements of both banks.

SBI launches ‘Dealer Accounts Drive’

SBI launches ‘Dealer Accounts Drive’The country’s leading public sector lender, the State Bank of India will initiate a special support drive for dealers in the country, in order to provide easy finance to small and medium scale entrepreneurs. The bank’s strategic business unit will support both vendors and dealers through ‘Dealer Accounts Drive’ – a six-month long special campaign for dealers, beginning from 1st July 2009.

SBI to offer auto loan at 8%

SBI to offer auto loan at 8%The country's largest lender, the State Bank of India, announced a special interest rate scheme for auto loans, dropping interest rate for car loans to 8 per cent for the first year and 10 per cent for the next two years.

For the remaining period, the interest rate would be about 25 to 75 basis points below the PLR of bank. The move will not only encourage others lenders - such as Axis, ICICI and HDFC bank - to cut auto loan rates, but also besides propel demand in the recession-hit auto sector.

SBI to offer auto loan at 8%

SBI to offer auto loan at 8%The country's largest lender, the State Bank of India, announced a special interest rate scheme for auto loans, dropping interest rate for car loans to 8 per cent for the first year and 10 per cent for the next two years.

For the remaining period, the interest rate would be about 25 to 75 basis points below the PLR of bank. The move will not only encourage others lenders - such as Axis, ICICI and HDFC bank - to cut auto loan rates, but also besides propel demand in the recession-hit auto sector.

Buy SBI With Stoploss Of Rs 1600: Ashwani Gujral

State Bank of IndiaStock market analyst Ashwani Gujral has maintained ‘Buy’ rating on State Bank of India (SBI) for a short term target of Rs 1820.

According to Mr. Gujral, interested traders can buy the stock with a strict stop loss of Rs 1600.

Today, the shares of the bank opened at Rs 1672.70 on the Bombay Stock Exchange (BSE). Current EPS and P/E of the stock stood at 143.67 & 11.64 respectively. The share price has seen a 52-week high of Rs 1935 and a low of Rs 894 on BSE.

SBI Can Achieve Target Of Rs 1710-1750 In Short Term: Nirmal Bang

SBINirmal Bang, one of the leading equity research-cum-broking house, has recommended a buy on State Bank of India (SBI) with a short target of Rs 1710-1750.

The report further stated that, if the counter is successful to breach 1675, then it will create a huge breakout.

Interested investors can buy the stock on dips and hold.

In addition, the firm has suggested a support level for the scrip at Rs 1580.

SBI Can Achieve Target Price Of Rs 1775-1840: Nirmal Bang

SBI Can Achieve Target Price Of Rs 1775-1840: Nirmal BangNirmal Bang, one of the leading equity research-cum-broking house, has recommended a buy on State Bank of India with a target between Rs 1775-1840.

In latest research report, the firm said that SBI has been under tremendous selling pressure and has been underperforming the market for some time.

Interested investors can buy the stock on dips and hold.

In addition, the firm has suggested a support level for the scrip at Rs 1560.

Sell SBI: Hitendra Vasudeo

Sell SBI: Hitendra VasudeoStock market analyst Hitendra Vasudeo of stockmechanics.com has maintained 'Sell' rating on State Bank of India (SBI) stock to achieve a target that lies between Rs 1601-Rs 1506.

According to Mr. Vasudeo, investors can sell the stock around Rs 1660-Rs 1696 with a stop loss of Rs 1720.

Another Downside Of Rs 100-150 In SBI Looks Imminent : Rahul Mohindar

Rahul Mohindar of Viratechindia said that there is a possible downside in SBI’s stock value.

He said that the stock will experience other downside of Rs 100-150 with a short-term to medium-term viewpoint.

Mr. Mohindar stated, “In SBI, there is a visible short opportunity clearly because the stock looks much overstretched, it has reacted from more than Rs 1700 levels on its way down. So, I think technically we would have achieved almost all targets on both shorter-term and longer-term counts.”

He doesn’t believe that the SBI stock can do much on the positive aspect.

SBI Jacks Up Personal & Car Loans

State bank of IndiaThe State bank of India announced on Wednesday that there’s going to be a small rise in rates for car loans and personal loans.

The MD of SBI said: “we have announced like in benchmark prime lending rates by 75basis points…Consequently, we will be raising rates by 75 basis points on an average.” Mr. Aggarwal added, “This interest rate cycle has peaked in economy and the rates are likely to stabilize at this level.”

SBI is going to raise interest rates in some schemes. SBI had also announced 0.75 % in its benchmark prime lending rate to 12.25% last month.




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