In the wake of mega merger, SBI stands to gain market share in fast-growing Retail and SME segments. Notably, it has been able to deliver relatively better operating performance vis--vis its peers despite elevated stress on balance sheet. Moreover, SBI has been able to clean-up its loan book effectively, which reasonably assures that it may surprise positively on operating and asset quality front, going forward. We maintain our BUY recommendation on the stock with an SOTP-based Target Price of Rs355 (valuing parent at 1.6x FY19 Adj. BV implying...