( Recommended in SAKAL NEWS PAPER. Arthvishwa ) : 20th April 2009
State Bank Of India( SBI ) : Rs 1306.35Notables :
- SBI is the largest commercial bank in India in terms of profits, assets, deposits, branches and employees.
- SBI offering the services of banking and as well as non- banking services to their customers. It provides a whole range of financial services which includes Life Insurance, Merchant Banking, Mutual Funds, Credit Cards, Factoring, Security Trading & Primary dealership in the Money market.
- The Bank is actively involved in non-profit activity called community services banking apart from its normal banking activity. The bank also concentrate in agriculture, for that it took initiative spotlight kharif and spotlight rabi campaigns for higher disbursement.
- SBI is targeting to emerge as the best rated bank among public, private, foreign and state -owned banks by the end of the next fiscal. Employee Stock Option Scheme, where employees have the option to pick up shares as per their needs is avail in SBI.
Share Holding Pattern :
- Central/ State Govt : 59.41 %
- Public : 36.31 %.
Financial Highlights:
- Net profit after minority interest of Rs 3607.61 Crore for the quarter ended December 31, 2008 where as the same was at Rs 2383.67 Crore for the quarter ended December 31, 2007.
- Total Income is Rs 30318.14 Crore for the quarter ended December 31, 2008 where as the same was at Rs 24380.99 Crore for the quarter ended December 31, 2007.
Technical Overview :
- The stock On Weekly Chart has given downward slopping "Channel Breakout" and formed "Higher Tops & Higher Bottoms" with heavy volumes, indicating the trend reversal.The stock is recommended to buy Cmp Rs 1306.35 and add in dips.
Support Levels :
- Support 1 : 1249
- Support 2 : 1169
- Support 3 : 1124
Stop Loss : 1065 on closing basis.
Targets :
- Target 1 : 1401
- Target 2 : 1521
- Target 3 : 1638
- Target 4 : 1717
Period : 6 to 9 months.