Long Term Buy Call For SBI

Long Term Buy Call For SBIStock market analyst Sudhanshu Pandey has maintained 'buy' rating on State Bank of India Limited (SBI) stock with a target of Rs 3450.

The strict stop loss for the stock is Rs 3040.

The stock of the company, on Sep 22, closed at Rs 3147.75 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 3175 and a low of Rs 1863 on BSE.

The country's largest banking institution has opened an exclusive branch for corporate salary accounts at the DLF Cyber Centre at Gachibowli, here - its first in the state.

The country's largest banking institution kicked off new division of DLF Cyber City at Gachibowli on Tuesday.

It becomes the bank's first corporate salary branch in Hyderabad.

While talking to media persons, Shiva Kumar stated that the new division will help maintain salary accounts of employees of corporates in an easy way, and it would offer up the complete variety of deposit, loan and tech products with the aim to fulfill the requirements of over 16,000 IT experts working in the IT firms as well as SEZs ecial Economic Zones.

Following the recent increase in the policy rate by the central banking institution (RBI) during the second quarter monetary plan assessment, SBI has altered its credit offtake objective and cut it by 3% for the existing fiscal
(2010-11).

SS Ranjan, Bank's CFO, stated, "We have moderated our credit growth target to 18% from 21% projected for the current fiscal."