Technical analyst Anil Singhvi has maintained 'sell' rating on State Bank of India (SBI) stock with an intraday target of Rs 3300.

According to Singhvi, the interested investors can sell the stock with stop loss of Rs 3460.

The stock of the company, on Nov 05, closed at Rs 3353.90 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 21.37 respectively.

India's biggest lender State Bank of India (SBI) has recorded a fall of 22.2% in its consolidated net profit, which stood at Rs 2,437.1 crore for July-September quarter of the existing financial year.

SBI recorded such fall on account of a significant loss registered by merged unit State bank of Indore.

SBI registered a net profit of Rs 3,133.1 crore during the second quarter of last fiscal.

Bank's MD R Sridharan said, "At the time of merger of State Bank of Indore with SBI we adopted pooling of interest method ... SBI Indore ended up showing a loss of Rs 850 crore largely on account of the third benefit given to employees, so that when you add up it resulted in reduction in (consolidated) net profit at the end of September 2010."

But, the bank registered an increase of 14.6% in its total income to Rs 37,925.4 crore during the quarter under review as against Rs 33,101.6 crore during the same quarter last fiscal.

On standalone basis, the bank's net increased merely by 0.4%to Rs 2,501.3 crore as compared to Rs 2,490 crore in the samle period of 2009.