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Why Morgan Stanley downgrades India's largest lender

Updated : September 25, 2019 03:23 PM IST

Despite the market volatility, liquidity crisis, economic slowdown, the State Bank of India (SBI) has gained over 14 percent in the last 1 year.
Morgan Stanley, in a report, downgraded the stock to 'equal-weight' from 'overweight' with a target of Rs 330 per share.
Post the downgrade, the shares of SBI fell over 5 percent in intra-day deals as compared to a 1 percent or 376 points fall in BSE Sensex at 38,721.
Why Morgan Stanley downgrades India's largest lender

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