SBI Share Price Skyrockets – Experts Suggest Buying Now

Shares of State Bank of India (SBI), India’s largest public sector bank, saw a sharp surge on Monday morning, rising over 6% at the opening bell. Investors were buoyed by the bank’s record-breaking quarterly results, prompting market experts to recommend buying SBI shares . The bank’s exceptional performance in the December quarter has strengthened investor confidence and market sentiment.

Record Quarterly Profit Boosts Investor Confidence

SBI reported a net profit of ₹21,028 crore in the December quarter, marking the highest-ever profit in the bank’s history. Net interest income grew over 9% year-on-year, reaching ₹45,190 crore, compared to ₹41,446 crore in the same quarter last year. Additionally, the bank’s total loans increased by more than 15%, highlighting a strong growth trajectory.

Asset Quality Improves, Provisions Under Control

The bank’s financial health showed significant improvement, with the gross NPA ratio falling to 1.57% from 1.73% in the previous quarter. Total provisions stood at ₹4,507 crore, remaining well within manageable limits. These factors indicate robust risk management and a solid balance sheet.

SBI Shares Hit 52-Week High

SBI shares opened at around ₹1,120 on the BSE and quickly climbed 6.60% to ₹1,136.85, reaching a new 52-week high. For context, the 52-week low for SBI shares is ₹679.65, reflecting a strong upward momentum. The bank’s current market capitalisation is approximately ₹10.40 lakh crore, making it one of India’s most valuable public sector stocks.

Positive Outlook from Brokerage Houses

Following these stellar results, several brokerage firms have given a buy recommendation for SBI. Nomura set a target of ₹1,235, CLSA ₹1,275, Citi ₹1,265, and Jefferies ₹1,300. Nomura also mentioned a target of ₹1,250, while UBS retained its target at ₹1,120, reflecting optimism about the bank’s growth and stability.

With strong quarterly profits, improving asset quality, and a 52-week high, SBI remains a top choice for investors looking to expand their portfolio in India’s banking sector.

Disclaimer: The content is for informational purposes only. Newspoint is not responsible for investment decisions. Please consult a financial advisor or investment expert before making any decisions regarding SBI shares.