Buy SBI With Stop Loss Of Rs 2500

SBITechnical analyst Anil Manghnani of Modern Shares and Stockbrokers has maintained ‘buy’ rating on State Bank Of India stock.

The analyst said that the investors can buy the stock with a stop loss of Rs 2500

The stock of the bank, on January 13, closed at Rs 2560.65 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 16.61 respectively.

State Bank of India and Bharti Airtel signed up a JV deal to offer up banking services to the country's unbanked millions.

The accord will harness the bank's strengths and Bharti's mobile telephony to put in value to the banking as well as financial services division and authorize millions of financially excluded in India in order to augment their source of revenue as well as quality of life.

SBI chairman O P Bhatt stated, "This JV will enable the bank to fulfil its mandate of reaching out to every Indian, leveraging the distribution network of Airtel to provide banking services in a cost-effective and secure manner. Bharti Airtel CMD Sunil Bharti Mittal expressed the same views.

Moreover, the State Bank of India (SBI) has declared that it is eyeing to establish a division in Botswana before 2011 end.

It is said that, SBI is in the process of looking for regulatory nod for establishing operations in Botswana.

Presently, the bank has an arm in Indonesia with a network of 6 divisions.