SBI Share Price Target 2024, SBI Share Price Today News NSE BSE: State Bank of India (SBI) share price touched the fresh 52-week high in Thursday’s trading session in the early trade.
Read More: Ixigo IPO: Travel Portal Parent Files Draft Papers With SEBI To Go Public
The counter climbed 1.29 per cent to quote at Rs 753 a share on the National Stock Exchange (NSE), from its previous close of Rs 743.40 apiece. On the BSE, it reached Rs 752.75 apiece – its highest level in 52-week. The scrip’s performance was inline with the sector of other PSU banking stocks.
SBI Share Price Target 2024
State Bank of India has delivered a strong all-round performance for the past few years and achieved new milestones in profitability (PAT surpassed Rs 500 b in FY23). The bank has also made efforts to significantly strengthen its balance sheet and has a healthy provisioning coverage on its corporate book at ~92%. SBI has delivered a strong performance in recent years, propelled by steady business, revenue growth and controlled provisions.
Read More: Stock Market Updates: Sensex Gains 200 pts, Nifty Above 21,900; Paytm Down 5%
Motilal Oswal tagged ‘BUY’ rating on the State Bank of India, recommending a price target of Rs 860 a share.
The brokerage in its report, said “we expect earnings to gain traction from FY25 onwards after this opex blip. NIMs have declined in recent quarters and the management has guided for broadly stable margins going forward as the bank has levers in place (CD ratio, MCLR re-pricing) to mitigate the impact of the rising cost of deposits.”
SBI Share Price Today News NSE BSE
At the time of filing this report, the counter was trading at Rs 750.90 a share, up by 1.01 per cent. In volume terms, 2.42 lakh shares of the company were traded on the BSE generating a total turnover of Rs 18.07 crore and over 1.1 crore shares changed hands on the NSE during the day.
Read More: BlueStone Jewellery plans Rs 2,000-crore IPO
The company has a market cap of Rs 6,69,836.75 crore, as per BSE website. The shares of the company have a PE of 11.62x.
