Buy State Bank of India; target of Rs 1200: Prabhudas Lilladher

Prabhudas Lilladher's research report on State Bank of IndiaSBI saw a steady quarter as core PPoP was in-line; lower loan growth was offset by better reported NIM, up 8bps QoQ to 2.94%. Management was a bit conservative in terms of domestic NIM guidance as it may surprise positively led by full imp…