INSUBCONTINENT EXCLUSIVE:
Mumbai: Morgan Stanley has raised its price target on State Bank of India by 14 per cent to Rs 375 citing better performances of its
note added.
SBI shares rose 0.5 per cent to close at Rs 328.25 on Wednesday
offering, which will open on March 2, is expected to fetch the state-owned bank about Rs 2,800 crore
The share sale will include up to 3.73 crore share sale by SBI and up to 9.32 crore shares by Carlyle Group.
SBI Mutual Fund emerged as the
biggest asset management company in the country in January with total assets under management (AUM) of Rs 3.82 lakh crore.
SBI Life
Insurance shares have gained almost 60 per cent in a year.
Morgan Stanley said though SBI shares are inexpensive at 0.7 times FY21 estimated
help some struggling entities.
