Stock market analyst Anil Maghnani has maintained 'buy' rating on State Bank of India Ltd stock with short term target of Rs 2490.
According to analyst, the investors can buy the stock with stop loss of Rs 2424.
Today, the stock opened at Rs 2440 on the Bombay Stock Exchange (BSE).
Current EPS & P/E ratio stood at 144.37 and 16.96 respectively.
The share price has seen a 52-week high of Rs 2500 and a low of Rs 1599.40 on BSE.
The Cabinet, on July 15, has sanctioned the acquisition of State Bank of Indore by SBI.
Moreover, the Cabinet also forwarded its nod to launch a Bill in the Parliament for making modifications in SBI (Subsidiary Banks) Act, 1959, with the intention to eradicate references ofState Bank of Indore.
On July 14, State Bank of India (SBI) said that it is all set to establish a new fund.
The banking institution will set up the new fund in partnership with State General Reserve Fund (SGRF) of Oman.
The new fund will be utilized for making equity investments in the Indian market.
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