Sell SBI With Target Of Rs 2400

Sell SBI With Target Of Rs 2400Technical analyst A. K Prabhakar of Anand Rathi has maintained 'sell' rating on State Bank of India Limited stock with a target of Rs 2400.

Mr. Prabhakar added that it is better to sell SBI stock at this time as there are chances of downfall in the coming days.

The interested investors can enter the stock again on declines to reap gains in the medium and long term, he added.

Today, the stock of the bank opened at Rs 2783.50 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 17.62 respectively.

The State Bank of India (SBI) is all set to make entry in the British mortgage market.

SBI, which is publicly owned and considered to be the largest in the country, is ready to commence its operations in the UK by the starting of the coming year.

As per news, SBI is already present in the UK as a savings source.

On Dec 06, State Bank of India (SBI) increased its depository rates by around 150 basis points (1.5%) across a range of maturities, a shift, which will offer up maximum returns to people with fixed deposits in SBI.