Mumbai16 hours ago
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SBI’s NII14.56% has increased to Rs 28 thousand 181 crore. Most brokerage houses believe that this stock can fetch a return of 40% from here. It can go up to 290 rupees in the next one year.
- Various brokerage houses have raised the target of SBI’s stock from Rs 280 to Rs 330.
- The stock, which has been under pressure for the last few days, reached Rs 220 on Thursday.
The rise in shares of the country’s largest bank State Bank of India (SBI) on Thursday has increased the target for brokerage houses. Brokerage houses believe that this stock can fetch returns of 35 to 60% from here. That is, this stock can go up to Rs 330.
Was trading between 160 and 200
Let us know that SBI’s stock has been continuously beating for the last few months. It was trading between 160 and 200 rupees. On Wednesday, the bank released the second quarter results. The bank reported that its profit grew by 52% during this period. It alone has a profit of Rs 4,754 crore. Since then, the bank’s shares have been looking up. Today it increased by 6% to reach 220 rupees.
Perform well in a challenging environment
Brokerage house Motilal Oswal says that SBI has done well in a challenging environment. There is a steady improvement in deposit growth. There is also an improvement in bad loans (NPAs). The number of borrowers has increased. There has been a 6% year-on-year growth in lending. Retail loans grew 14.5% year-on-year. Home loans have grown by over 10% on an annual basis.
300 rupees target
The brokerage house has set a target of Rs 300 for the stock, which is 45% higher than Rs 207 in today’s intraday. Sharekhan has a target of Rs 280. That is, according to this, you will get a return of 35%. According to the brokerage, SBI is in a better position than its other competing banks. The bank’s position is strong in terms of asset quality, capitalization, underwriting strength.
CLSA’s goal of 330
Brokerage house CSL has increased its target from Rs 310 to Rs 330. On this basis, the stock can get 60% return. According to the brokerage, the bank’s NII growth has been better than expected. The bank’s profits are expected to increase further in the coming days.
Morgan Stanley’s goal of 280
Morgan Stanley has put it into overweight and has predicted that the stock could go up to Rs 280. This global brokerage house has said that the bank has done well on the bad loans front. It has done well in the SME segment. The total income of the bank increased by 3.42% to Rs 75,341 crore. NII has increased by 14.56% to 28 thousand 181 crores during the same period.
Most brokerage houses believe that this stock can fetch a return of 40% from here. It can go up to 290 rupees in the next one year.