SBI shares up 1% post Q2; should you buy, hold or sell?
Brokerages remain bullish on SBI with ‘Buy’ ratings, expecting potential upside of up to 25% from the current level.
Brokerages remain bullish on SBI with ‘Buy’ ratings, expecting potential upside of up to 25% from the current level.
The net interest income jumped 5.37% YoY to ₹41,620 crore in Q2 FY25, from ₹39,500 crore in the same period last year.
In less than a month, State Bank of India raised a total of ₹15,000 crore through issuance of Tier-2 bonds in two equal tranches.
State Bank of India shares gained as much as 6.4% to hit a record high of ₹718.80 intraday today, while the m-cap surged to ₹6.36 lakh crore.
The issue was oversubscribed almost 4 times with bids of ₹15,907 crore against the base issue size of ₹4,000 crore, said SBI.
SBI shares ended 2.94% lower at ₹573.25 on the BSE amid surge in selling activities post Q1 results.
The shares of SBI rose over 2% in intraday trade on Friday after the PSU bank reported 83% jump in net profit.
The board of the PSU lender is scheduled to meet on April 18 to consider the fundraising proposal.
Most brokerages have assigned “Buy” ratings to SBI shares after Q3 results, with a potential upside of 28% from the current market price.
Fundraising also includes a greenshoe option of ₹5,000 cr. SBI stock rises to an intra-day high of ₹613.50.