State Bank of India (SBI) shares can see a tremendous rise. Analysts tracking the shares of State Bank (SBI) say that the shares of the bank can go up to Rs 710. That is, from the current share price, the bank’s shares can see a jump of 56 percent. Market experts say that SBI shares are attractively valued. Analysts who track SBI shares say that in the coming times, the net interest margin (NIM) of the bank will see an expansion.
The target of Rs 710 for the shares of the bank
In a report in Economic Times, IIFL Securities has given a target of Rs 710 for the shares of State Bank of India. Brokerage houses are finding the valuations of the bank quite attractive. SBI shares closed at Rs 455.15, up 2.27 per cent on the Bombay Stock Exchange (BSE) on Monday. With the current share price, the bank’s shares may jump by 56 per cent. At the same time, Axis Securities has given a target of Rs 665 for the shares of State Bank of India. While ICICI Securities has given a target price of Rs 673 for the shares of the bank.
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CLSA gave a target of Rs 660 to the shares of the bank
Nomura India has said about the bank that the loan growth has surprised positively and this improvement will be very important for the bank’s stock. The brokerage house has set a target of Rs 615 for the shares of the bank. At the same time, CLSA has placed the shares of SBI as one of its top picks in the banking sector. The brokerage house has given a target price of Rs 660 for the shares of the bank. The state-run bank’s standalone net profit grew 41.27 per cent year-on-year to Rs 9,113.53 crore as against Rs 6,450.75 crore in the year-ago period.
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SBI’s stock is included in the top pick of the brokerage house
Brokerage house Prabhudas Lilladher says recoveries, like most large private banks, have been more than slippages, resulting in lower gross NPAs of the bank. The brokerage house has given a target price of Rs 600 for the shares of the government bank. On the other hand, Nirmal Bang Institutional Equities says that the State Bank of India (SBI) stock is one of their top picks. The brokerage house has given a target price of Rs 626 for the shares of the bank.