Gaurang Shah, VP at Geojit BNP Paribas Financial Services told CNBC-TV18, " State Bank of India (SBI) is one of the banks that is under our positive coverage in the banking universe from the public sector undertaking (PSU) banking lot.
With top-down scenario for interest rate cut, the only issue has been with PSU bank is the asset quality and the restructuring/provisioning issues but given the fact that it is the largest public sector banks and with the recent initiatives by the government this bank also would tend to get benefited." "My advise to the investors would be to hold on to it, wait out for the numbers that will be seeing in maybe about a week or fortnight from State Bank of India (SBI).
From the near-term we are working with a target of about Rs 345 and if numbers are something soothing and asset quality does not disappoint and of course the NIMs improve, definitely we would revise it upwards, so hold as of now," he added.
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