highlights
The broker believes that this stock can rise by up to 24 percent.
The brokerage firm is pleased with the excellent fourth quarter results.
The increase in earnings and the reduction in NPAs will be reflected in the stock.
New Delhi. If you have SBI Share in your portfolio, then there is good news for you. After strong quarterly results (SBI Q4 results), stockbrokers are bullish on the stock of the country’s largest bank. Three brokerage houses have advised investors to buy this share and predict further upside potential for the SBI share. The bank’s profit rose 83 percent to Rs.16694 crore in the March quarter (SBI Q4 results). At the same time, net interest income rose 30 percent to Rs.40,392 crore.
In the fourth quarter of fiscal 2023, the bank’s operating profit rose 24.87 percent to Rs.24,621 crore. At the same time, the bank’s gross NPA (NPA) fell 7.5 percent to Rs.90,927.8 crore. In the previous quarter it was 98,347 crore rupees. On a quarterly basis, the bank’s net NPA fell 8.6 percent to Rs.21,466.6 crore. In the previous quarter it was 23,484 crore rupees.
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Morgan Stanley issued a buy recommendation
cnbctv18 hindi According to a report, brokerage house Morgan Stanley has set its price target at 715 while recommending buying SBI shares. The stock is currently at the 576 level. That means the stock is expected to rise 24 percent from here. The brokerage firm says earnings were better than expected due to higher margins. Credit growth was strong, growing 17 percent year-on-year. Morgan Stanley has also raised the bank’s earnings forecast for 2023-24.
JP Morgan has given a price target of 720 rupees.
JP Morgan has recommended investing in SBI with a target of 720 and estimates the stock will grow 25 percent. According to the brokerage firm, operating profit was in line with estimates. Margins are up and loan growth has been better too.
Bernstein gave the rating “Outperform”.
Brokerage firm Bernstein has given the State Bank of India an Outperform rating with a target price of Rs.700. The broker thinks SBI stock can climb 22 percent from current levels.
(Disclaimer: The stocks mentioned here are based on advice from brokerage houses. If you are interested in investing in these stocks, please consult a certified investment adviser first. News18 is not responsible for your gain or loss of any kind. Will happen.)
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Keywords: Business news in Hindi, Tips for making money, SBI Bank, stock market, Stock Tips
FIRST RELEASED : May 22, 2023 5:10 PM IST
