AgenciesICICI Direct has buy call on State Bank of India with a target price of Rs 653. The current market price of is Rs 617.15. ICICI Direct recommended to keep stop loss at Rs 593.
State Bank of India, incorporated in the year 1955, is a banking company (having a market cap of Rs 550916.28 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 30-09-2022, the company has reported a Consolidated Total Income of Rs 114782.48 Crore, up 21.43 % from last quarter Total Income of Rs 94524.30 Crore and up 13.49 % from last year same quarter Total Income of Rs 101143.25 Crore. The bank has reported net profit after tax of Rs 14752.00 Crore in latest quarter.
Investment Rationale
Resuming up move after last four weeks’ higher base formation above the breakout area.
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 550916.28 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 30-09-2022, the company has reported a Consolidated Total Income of Rs 114782.48 Crore, up 21.43 % from last quarter Total Income of Rs 94524.30 Crore and up 13.49 % from last year same quarter Total Income of Rs 101143.25 Crore. The bank has reported net profit after tax of Rs 14752.00 Crore in latest quarter.
Investment Rationale
Resuming up move after last four weeks’ higher base formation above the breakout area.
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.
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