Brokerages bullish on SBI: State Bank of India (SBI) saw a strong performance across all segments in the second quarter. Bank profits rose 74% to cross 13 thousand crores. The September quarter saw the best of 19 quarters. Loan growth was visible. The bank's asset quality has improved in the September quarter of FY 2023. The bank's loan growth was also good. The bank's interest income grew 15 percent to Rs 79,859.59 crore in the September quarter of FY 2023. SBI's Gross non-performing assets accounted for 3.52 per cent of the total loan book. Net NPA of the bank stood at 0.80 per cent of the total loan book, while SBI Chairman Dinesh Khara said that in the current financial year (FY 23), the bank has the target of 14 to 16 percent loan growth has been set. Know the brokerage's view on this stock
BROKERAGES ON SBI
Morgan Stanley has given an overweight call on SBI. He says the bank's Q2 performance has been better on all scales. It is expected to improve margins going forward. He has fixed its target price from Rs 675 to Rs 715.
NOMURA has given buy rating on SBI. He has increased the target to Rs 690 per share. He says 15% RoE is possible between FY23-25. The growth of the bank will continue. Along with this, its cost management has been better.
INVESTEC has increased its target price to Rs 680 by giving buy rating on SBI. He has raised the bank's profit forecast for FY23/24 by 13%.
Giving opinion on SBI, GS has given a buy rating on it. He said that he has increased the target price of this banking share by Rs 728 to Rs 770. Profits in the second quarter were 18 per cent higher than our estimates, he said. They have raised its net profit estimate for FY23E-FY24E to 13.9%/2.5%.
Disclosure: The views and investment advice provided on StockPro are the opinions of investment professionals. Whenever an investment decision is made, users should seek the advice of a certified expert.
Fill Up The Form and we will call you
