CLSA has raised its target price on SBI's stock by an impressive 45.45 per cent to Rs 560 from Rs 385. This also reflects a 58 per cent upside from the stock's market price as on Thursday
The broader markets, however, came under selling pressure. The S&P BSE MidCap and SmallCap indices ended 0.93 per cent and 0.28 per cent lower, respectively
The stock hit a lifetime high of Rs 408 apiece in intraday deals on Friday, up 15 per cent on the BSE, as against a 0.7 per cent rise in the S&P BSE Sensex
SBI, Indian Bank, Bank of Baroda, Canara Bank, Punjab National Bank and Bank of India were rallied between 25 per cent and 50 per cent in past one week.
Net Interest Income up 3.75% to Rs 28,820 cr
Stress on the asset quality front is at a multi-quarter low; bank ups PCR to 90 per cent
The budget redefines fiscal rules because it adds off-balance sheet items to the headline deficit, a note said adding that consolidation of finances is a pragmatic move
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Total provisions for the quarter were Rs 10,342.39 crore, of which provisions for NPA were Rs 2,290.38 crore
Robust buying in shares of ITC, Kotak Mahindra Bank, State Bank of India, Bajaj Finance, ICICI Bank, and M&M helped the benchmark S&P BSE Sensex scale fresh lifetime peak of 50,687.51 level
In past four trading days, Nifty PSU Bank index has rallied 18 per cent as compared to a 9 per cent gain in the benchmark Nifty50
HCL Technologies has formed a global strategic alliance with Alteryx, Inc to help companies with analytics automation and digital transformation priorities
Most analysts expect State Bank of India's Q3 profit after tax (PAT) to decline anywhere between 15 per cent and 58 per cent on a yearly basis during the quarter under review
A focus on localisation and increase of duties in select sectors are also expected to boost manufacturing across sectors.
The Rs 3,800 crore-IPO of the REIT will open on Wednesday
The Rs 3,800 crore-IPO of the REIT will open on Wednesday
According to Phillip Capital increased allocation for capital expenditure will bode well for large banks, namely ICICI Bank, Axis Bank, HDFC Bank and State Bank of India
The faster-than-expected economic recovery may limit the impact to lenders' balance sheets, Khara said
Asset quality needs monitoring as Q3's gross NPA ratio of 4.5 per cent is higher than average
During the 74 sessions, the market capitalisation of the listed firms on BSE soared by Rs 38.55 trillion to Rs 199 trillion