Reuters has buy call on State Bank of India with a target price of Rs 606. The current market price of is Rs 457.95. Time period given by analyst is year when State Bank of India price can reach defined target.
State Bank of India, incorporated in the year 1955, is a banking company (having a market cap of Rs 408747.21 crore).
State Bank of India key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-03-2022, the company has reported a Consolidated Total Income of Rs 108034.68 crore, up 3.35% from last quarter Total Income of Rs 104528.22 crore and up 4.45% from last year same quarter Total Income of Rs 103430.64 crore. The bank has reported net profit after tax of Rs 9549.13 crore in latest quarter.
Investment Rationale
has shown a strong overall financial performance with revival on retail loan book. Asset quality has also improved over the quarters. Management expects to have firm growth in coming quarters despite rising inflation and input costs. SBI is moving ahead with healthy PCR and capitalization and positive outlook in Indian economy. Hence, the brokerage reiterates BUY rating on the stock, with a revised target price of Rs 606 using the SOTP methodology.
Promoter/FII Holdings
Promoters held 57.59 per cent stake in the company as of 31-Mar-2022, while FIIs owned 9.97 per cent, DIIs 24.65 per cent.
State Bank of India, incorporated in the year 1955, is a banking company (having a market cap of Rs 408747.21 crore).
State Bank of India key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-03-2022, the company has reported a Consolidated Total Income of Rs 108034.68 crore, up 3.35% from last quarter Total Income of Rs 104528.22 crore and up 4.45% from last year same quarter Total Income of Rs 103430.64 crore. The bank has reported net profit after tax of Rs 9549.13 crore in latest quarter.
Investment Rationale
has shown a strong overall financial performance with revival on retail loan book. Asset quality has also improved over the quarters. Management expects to have firm growth in coming quarters despite rising inflation and input costs. SBI is moving ahead with healthy PCR and capitalization and positive outlook in Indian economy. Hence, the brokerage reiterates BUY rating on the stock, with a revised target price of Rs 606 using the SOTP methodology.
Promoter/FII Holdings
Promoters held 57.59 per cent stake in the company as of 31-Mar-2022, while FIIs owned 9.97 per cent, DIIs 24.65 per cent.
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