Banking Sector

Sell SBI

Sell SBIStock market analysts have suggested investors to ‘sell’ State Bank of India (SBI) stock with a target of Rs 1271.

According to them, interested investors can sell the stock between Rs 1295-1300 with a strict stop loss of Rs 1320.
 
Today (Jan 07), the stock opened at Rs 1330.90, against its last closure at Rs 1324.20 on the Bombay Stock Exchange (BSE) on Tuesday (Jan 06). Current EPS & P/E ratio stood at 119.59 and 10.76 respectively. The share price has seen a 52-week high of Rs 23.87.60 and a low of Rs 991.10 on BSE.

SBI acquires 19.7% stake in Mayfair Hotels & Resorts

SBI acquires 19.7% stake in Mayfair Hotels & ResortsThe State Bank of India (SBI), the largest bank in the country, has picked up 19.7 per cent equity in Orissa-based Mayfair Hotels and Resorts (MHRL) through a private equity (PE) deal, for an undisclosed sum.

The group currently has four hotels in the state and plans to use the funds to expand organically and geographically.

The deal was for 37.33 lakh shares with a face value of Rs 10 each. Post-deal, the promoters' share will be 80 per cent.

IBM signs IT services agreement worth $5 million with Kotak Mahindra Bank

IBM signs IT services agreement worth $5 million with Kotak Mahindra BankIBM has entered into a US$5 million IT services agreement with Kotak Mahindra Bank Limited (Kotak) to further strengthen latter’s position as one of the leading banking and financial services provider in India.

Under the arrangement, IBM will design, build and maintain a highly scalable, energy-efficient green data center as well as the converged IP network infrastructure for the client.

ICICI Bank inks ‘Bill-Payment Pact’ with BSNL

ICICI Bank inks ‘Bill-Payment Pact’ with BSNLThe country’s largest private sector lender ICICI Bank has informed that it has entered into an agreement with BSNL Cell One to enable the latter's customers pay their bills through ICICI Bank's Web site.

Under the facility, the subscriber will be able to view their billing details on the Internet and pay accordingly by clicking a button. Their account will be debited for the billing amount and the proceeds shall be remitted to the BSNL.

SBI To Mop Up Rs 500 Cr Via Retail For Tier II Bonds

SBI To Mop Up Rs 500 Cr Via Retail For Tier II BondsState Bank of India (SBI) plans to raise about Rs 500 crore from retail investors as Tier II capital. This capital will be a part of the Rs 5,000 crore, which the bank plans to raise in January.

According to the SBI Chairman, O P Bhatt, the bank is now giving this opportunity to the common man as earlier it was raising Tier II capital only through big investors.

He said, “The minimum investment required will be anywhere between Rs 10,000 and Rs 1 lakh. We are planning to do this in the current quarter.”

SBI Intraday Buy Call

SBI Intraday Buy CallStock analysts have maintained ‘buy’ rating on State Bank of India (SBI) stock with an intraday target of Rs 1333.

According to them, interested traders can purchase the stock around Rs 1315 with a strict stop loss of Rs 1295. If the stock market remains on positive track, the stock pricing becomes more attractive, and reach above Rs 1350.
 

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