Gaurang Shah of Geojit Financial Services told CNBC-TV18, “We do remain positive on State Bank of India (SBI). One should start buying and possibly on gradual dips you could definitely go on adding to it. Policies by the government are looking positive and possibly you will see huge resolution in terms of the GNPL issues which are on the balance sheet for a long time. So, go ahead but stagger out your buying.”
At 15:19 hrs State Bank of India was quoting at Rs 284.90, down Rs 3.60, or 1.25 percent on the BSE.
The share touched its 52-week high Rs 315 and 52-week low Rs 204 on 19 May, 2017 and 13 June, 2016, respectively.