Agencies has buy call on with a target price of Rs 642. The current market price of State Bank of India is Rs 515.95. Time period given by analyst is Intra Day 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 473941.51 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-2022.
Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 94524.30 Crore, down -12.51 % from last quarter Total Income of Rs 108034.68 Crore and up 1.35 % from last year same quarter Total Income of Rs 93266.94 Crore. The bank reported net profit after tax of Rs 7325.11 Crore in latest quarter.
Investment Rationale
Under base case scenario, we expect the bank to post a ROA/ROE of 0.9%/15% by FY24E led by healthy balance sheet growth along with higher PCR and stable asset quality. The brokerage recommends BUY with target price of ₹642 (potential upside of 21%). It values the standalone bank with PBV of 1.3xFY24E Adj. BVPS of ₹379 and value of subsidiaries per share at ₹149.
Promoter/FII Holdings
Promoters held 57.57 per cent stake in the company as of 30-Jun-2022, while FIIs owned 9.62 per cent, DIIs 25.09 per cent.
State Bank of India, incorporated in the year 1955, is a banking company (having a market cap of Rs 473941.51 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-2022.
Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 94524.30 Crore, down -12.51 % from last quarter Total Income of Rs 108034.68 Crore and up 1.35 % from last year same quarter Total Income of Rs 93266.94 Crore. The bank reported net profit after tax of Rs 7325.11 Crore in latest quarter.
Investment Rationale
Under base case scenario, we expect the bank to post a ROA/ROE of 0.9%/15% by FY24E led by healthy balance sheet growth along with higher PCR and stable asset quality. The brokerage recommends BUY with target price of ₹642 (potential upside of 21%). It values the standalone bank with PBV of 1.3xFY24E Adj. BVPS of ₹379 and value of subsidiaries per share at ₹149.
Promoter/FII Holdings
Promoters held 57.57 per cent stake in the company as of 30-Jun-2022, while FIIs owned 9.62 per cent, DIIs 25.09 per cent.
(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
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