Logo

Logo

# Business

SBI shares rise 2% as Citi raise target buy to Rs 400

Citi has raised the target price by Rs 25 reaching to Rs 400 from Rs 375 per share of the higher target for SBI Life

SNS | New Delhi | December 27, 2019 1:13 pm

SBI shares rise 2% as Citi raise target buy to Rs 400

State Bank of India office building in downtown New Delhi India. (Photo: IANS)

Share price of State Bank of India (SBI) jumped over 2 percent during intraday trade on Friday to become the second top gainer of the day, after research firm Citi maintained its ‘buy’ call on the lender and raised price on the market.

Citi has raised the target price by Rs 25 reaching to Rs 400 from Rs 375 per share of the higher target for SBI Life and higher multiple on core banking business.

Advertisement

It believes that the lender would be able to stabilize its primary operating parameters, while merger of its associate banks should provide leverage to gain market share.

Advertisement

At 1227 hours share price jumped at Rs 337.30, up Rs 7.50, or 2.27 percent on the BSE.

On July 18 the SBI share price touched its 52-week high of Rs 373.70, whereas on October 09, it hit the 52-week low Rs 244.35.

(With input from agencies)

Advertisement

Related posts

# Cities

Ex-employee of SBI held for cyber fraud

A 21-year-old former employee of SBI was apprehended from Kolkata for supplying bank accounts on commission basis for online trading with the recovery of five Mobile phones, one laptop, five cheque books, 20 Debit cards, and three Stamps of proprietorships from his possession.

# Bengal

SBI celebrates ‘World Aids Day’ with blood donation camp in Durgapur

Today, SBISA (State Bank of India Staff Association) and SBIPA (State Bank of India Pensioners' Association) organized a mega blood donation camp in association with the Durgapur Sub Divisional Volunteers Blood Donors Association to raise awareness and celebrate World AIDS Day at the administrative office in Durgapur.