Brokerages get bullish on SBI post Q4 earnings: Time to buy the stock?
The bank s net interest income jumped 19% over the year-earlier to Rs 27,067 crore as against a projection of Rs 28,853 crore. SBI s other income too increased 21.6% to Rs 16,225 crore
BusinessToday.In | May 24, 2021 | Updated 14:46 IST
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SBI share rose 4 per cent to hit an intraday high of Rs 418.90 in early trade after the lender reported an 81 per cent year-on-year (YoY) growth in net profit to Rs 6,451 crore for the quarter ended March 2021.
The stock opened 4 per cent higher at Rs 417.15 against the previous close of Rs 401.10. The stock has gained 172 per cent in one year and risen 49 per cent since the beginning of this year. The public sector lender s share stands higher than 5 day, 10 day, 20 day, 50 day, 100 day, and 200 day moving averages.
L&T remains the top pick in the infrastructure sector. Smaller companies like JMC Projects and Ahluwalia Contracts are also very good with excellent order books, says Sandip Sabharwal
The market feels that the worst may be over for SBIs balance sheet, as the stock soared 15 per cent its highest intraday gain since March 2020 to a record high of Rs 408.35.
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Ideas For Profit | SBI Q3 earnings: Will India’s largest bank be the prime mover and shaker behind a capex turnaround?
The quarterly results are out for State Bank of India, India’s largest PSU bank and one of the Fortune 500 companies. In this edition of Ideas For Profit,we analyse the results and look at the valuation of the PSU behemoth.