According to the estimates of all brokerages, the average SBI share price is likely to go between 550-600.
Profit up 80 percent in March quarter.
After the results of the March quarter, the State Bank of India stock has soared 8 per cent in the last two trading sessions. At 2.45 pm, SBI’s stock was trading at a level of 3 per cent (Rs 12.50) at Rs 412 level. SBI’s stock is currently lagging just behind the all-time high of Rs 428. Since the result, brokerage firms have given strong signals about the performance of this stock.
According to a report published in the Economic Times, Motilal Oswal has raised the new target price for the State Bank of India to Rs 530. Brokerage firm CLSA has increased the target price to Rs 650. Earlier his target was 600 rupees. Morgan Stanley has reduced the target price for SBI to 600 rupees. Goldman Sachs has given a new target of 648 rupees. Nomura has this target of 550 rupees. JP Morgan has increased the target price from Rs 450 to Rs 515. In this way, according to the estimates of all brokerages, the average SBI share price can reach between 550-600.
Subsidiaries account for 40 per cent of SBI’s market cap. Talking about the result, the bank’s net profit in the March quarter was 6450 crores. It has increased by 80 per cent on an annual basis. Prior to provisioning, the bank’s profit in this quarter was 19700 crores. It was 18465 crore in the March 2020 quarter. Interest income is the main means of earning a bank. Net interest income increased to Rs 27067 crore.
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