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SBI Can Fall Another 12-14%: Baliga

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SBI can fall another 12-14%, says Ambareesh Baliga, Karvy Stock Broking.

Baliga told CNBC-TV18, “Bank is one sector, which is extremely weak and we have been talking about it for a while especially post the June quarter results we had said this sort of NIMs is not possible to hold on. September quarter really surprised us but our view is coming right now that it will suffer for the next two quarters also, the treasury income would be lower if you are talking of next 2-3 quarter, asset quality will deteriorate. So at these levels most of the banks still look expensive and a bank like SBI can still fall another 12-14% from here.”

The company’s trailing 12-month (TTM) EPS was at Rs 153.72 per share. (Sep, 2010). The stock’s price-to-earnings (P/E) ratio was 18.64. The latest book value of the company is Rs 1038.57 per share. At current value, the price-to-book value of the company was 2.76. The dividend yield of the company was 1.05%.

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