Brokerages positive on SBI despite decline in net profit: Find out why?
Mon, Feb 5, 2024 1:37 PM

Brokerages positive on SBI despite decline in net profit: Find out why?

A Flip by Avya Verma
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Brokerages remain optimistic about the State Bank of India (SBI) stock, despite weak Q3 results. SBI saw a decline in net profit and NII, but managed to sustain growth momentum and improve loan growth. Jefferies maintains a Buy call, while Motilal Oswal has a BUY rating with a target price of INR 800. JM Financials projects a RoA of 0.94% and RoE of 16% for FY26E and holds.

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