However, the Street appeared unimpressed over the developments as the stock fell to the day s low of Rs 575.50, declining 0.45% in the early trade. The PSU Bank index was also trading 0.68% lower despite overall positive sentiments in the market.
"At least from the headline numbers of NPA, it tells us that there does not seem to be any worry. We will have to look at the granularity in terms of what are the slippages and what are the upgrades. Possibly the upgrades would have been better this time around relative to the other quarters."
Surpassing the 200-day SMA is often viewed as a strong signal of potential long-term growth and stability. However, investors should conduct thorough research and analysis before making investment decisions.
"The agency forecasts India to be one of the fastest-growing Fitch-rated sovereigns globally this fiscal year. Healthy business sentiment, resilient financial markets and the government s capital spending can buffer global economic headwinds and inflation," it said, adding that SBI s business profile score of BBB is the highest among Indian banks and above the OE score of BB+ , which reflects SBI s ability to generate business consistently through the cycle while managing risk better than peer state banks.