Psu bank stock: The country’s largest public sector bank State Bank of India (SBI) has announced the results of the third quarter of 2024-25. The bank’s performance in the December quarter was mixed. The bank’s income was higher than the estimate of the income analysts due to low credit costs. While the main operating performance was not estimated due to weak net interest income. Due to this, brokerage companies have reduced their target price slightly on PSU bank.
However, most brokerage has retained its rating on SBI on ‘Buy’. At 12 noon, SBI’s stock was trading at Rs 745 with a decline of about 1 per cent on BSE.
Motilal Oswal: Target Price 925 | Rating Buy | Upside 23%
Brokerage firm Motilal Oswal has his own on SBIBuy‘Rating is retained. Brokerage has kept a target price of Rs 925 on stock. In this way the stock can give a return of 23% in the future. SBI shares closed at Rs 752 on Thursday (6 February) at a price of Rs 752.
Talking about the performance of stock, pressure has been seen on it for some time. It has broken about 5% in the last one month. It has declined by more than 13% in the last three months. However, the stock is running 10% above the last one year. The 52 week high of the stock is Rs 912 while 52 weeks are Rs 678. The market cap of stock on BSE is Rs 6,64,348 crore.
According to brokerage, the bank’s credit growth was good in the December quarter. However, there was a slow growth in the Incentive Book (Express Credit). In addition, the deposit increase was modest, while the CASA growth was under pressure.
Nuvama: Target Price 1026 | Rating Buy | Upside 36%
Brokerage firm Nuwama has also advised to buy PSU bank stock SBI. Brokerage has kept a target price of Rs 1026 on stock. In this way, the stock can give a strong return of up to 36% in the future.
IIFL Capital: Target Price 870 | Rating Buy | Upside 16%
Brokerage firm IIFL Capital has upheld its BUY rating on SBI. Brokerage has kept the target price of Rs 870 for stock. In this way the stock can give 16% return in long term.
HDFC Institutional Equites: Target Price 1050 | Rating Buy | Upside 40%
HDFC Institutional Equities have retained their BUY rating on SBI. Also, a target price of 1050 rupees has been kept on the stock. In this way, SBI shares can give a strong return of 40% in the long term.
According to brokerage, SBI’s deposit growth remained slightly soft in the December quarter. This is because the CASA ratio fell to 37.6 percent. The quality of the asset has further improved.