SBI Bank Shares Showing Strong Growth, May Reach Rs 700: Experts
State Bank of India (SBI) Bank shares are displaying signs of robust growth, with experts predicting that the shares may touch Rs 700 in the near future. In Wednesday’s trading session, the bank’s shares closed at Rs 596.35, marking a 1.36 percent increase.
Expert Advice: Buy SBI Bank Shares
Out of 40 stock market experts, 23 recommend buying SBI Bank shares, while three advise holding the stock. Currently, the shares are trading at Rs 598.30, reflecting a 0.17 percent increase on Friday, September 15, 2023.
Target Price of SBI Bank Shares
According to a report by brokerage firm Motilal Oswal Financial Services, the target price for SBI Bank shares is Rs 700, which is 17.36 percent higher than the current price. Another report by HDFC Securities sets the target price at Rs 750, a 25 percent increase. On average, analysts have set a target price of Rs 711.20, indicating a potential 20 percent return for investors.
Impressive Dividend Distribution
In May 2023, SBI Bank announced a dividend distribution of 1130 percent to its investors. This follows a 710 percent dividend distribution in 2022. The bank has a history of pleasing investors with its dividend distributions, such as distributing 400 percent in May 2021, 260 percent in May 2017, and 60 percent in 2016. These returns surpass the interest rates offered by fixed deposits (FDs).
Foreign investors have also shown significant interest in SBI shares. In March 2023, foreign institutional investors held 9.89 percent share capital, which increased to 10.36 percent in the June quarter. However, mutual funds reduced their share from 25.17 percent to 24.80 percent.
Investing in mutual funds and the stock market comes with risks, and it is advisable to consult a financial advisor before making any investment decisions. AkhandIndia.com shall not be held liable for any financial loss incurred.
SBI Share Price Today on September 15, 2023
Stay updated on the latest SBI Bank share prices as of September 15, 2023.
