📈 SBI Share Price Update: Motilal Oswal Financial Services has revised its target price for SBI shares, raising it from Rs 700 to Rs 800. This represents a 23% increase from the current price. As of today, SBI shares are trading at Rs 644, showing a growth of 1.19%.
🏢 SBI’s Recent Performance: SBI shares have witnessed significant growth in the past few days, reaching a 52-week high on Monday. During trading, the shares touched a new high of Rs 655.55. In December alone, SBI shares have seen a 15.45% increase.
💪 Reasons for the Growth: Motilal Oswal attributes the strong loan expansion and reduced provisions as the key drivers behind the growth in SBI shares.
💼 Target Price and Outlook: With the target price increase, Motilal Oswal experts have highlighted factors such as earnings growth, credit growth, stable margins, and controlled credit costs for the positive outlook on SBI shares. The brokerage firm has given a ‘buy’ rating to public sector banks.
💰 Impressive Returns: SBI shares have delivered approximately 8% returns in the past year and a remarkable 125% return over the past five years. This means that SBI shares have doubled their investment value in just five years.
📊 Financial Performance: In the second quarter of the financial year 2023-24 (July-September), SBI reported a net profit of Rs 14,330 crore, an 8% increase compared to the same quarter last year (Rs 13,265 crore). Additionally, the bank’s net interest income for the quarter stood at Rs 39,500 crore, a 12.3% increase from the previous year’s quarter (Rs 31,184 crore).
💡 Expert Opinion: As SBI continues to show strong financial performance and positive growth indicators, experts believe that the stock price will continue to rise, making it an attractive investment option.
Please note that the target price increase and positive outlook from Motilal Oswal Financial Services have led to the ‘buy’ rating for SBI shares.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
