SBI gains brokerage support with targets up to Rs 1,350
In short
State Bank of India reported second-quarter profit of Rs 23,038 crore, up 15% from a year earlier. Its loan book passed Rs 52 lakh crore, and interest income rose 10%.
Brokerages now see up to 34% upside and have Buy ratings on the stock. The company also warned that macro changes and treasury losses could still be a problem.
What the reporting says
State Bank of India posted second-quarter profit of Rs 23,038 crore, up 15% year on year, while its loan book crossed Rs 52 lakh crore and interest income rose 10%. Brokerages responded with Buy ratings and target prices between Rs 1,225 and Rs 1,350, according to the publisher summary. Management also flagged possible macroeconomic headwinds and treasury losses, leaving the near-term outlook partly uncertain.
Why it matters
State Bank of India delivered a strong second quarter, with profit rising 15% to Rs 23,038 crore and interest income up 10%, while the loan book exceeded Rs 52 lakh crore. Brokerages including Jefferies and Motilal raised optimistic views with target prices of Rs 1,225 to Rs 1,350. The reporting also notes management concerns about macroeconomic shifts and possible treasury losses.