Shares of SBI in a positive motion after Q4 results

India’s largest bank, State Bank of India (SBI) announced its quarterly result on Thursday. This resulted in a bullish motion in this stock with the stock price increasing 1% on Friday.

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SBI’s net profit for Q4 FY2024 stood at ₹20,698 cr, the highest quarterly profit ever at a 24% growth. The net profit for the same period a year ago was ₹16,694.5 Cr.

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SBI’s credit book is also likely to witness a growth of 14% to 16% for FY2025. This showcases optimism for the Indian market growth. For the same period, its deposit is expected to increase by 12% to 13%.

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Given this, many brokerage houses and analysts have given SBI stock a “Buy” tag with a target price of around ₹950.

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As of the first half of Friday, the company’s stock was trading in a range of ₹816.65 to ₹832.05 compared to the previous closing of ₹819.80.

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Shares of SBI in a positive motion after Q4 results

India’s largest bank, State Bank of India (SBI) announced its quarterly result on Thursday. This resulted in a bullish motion in this stock with the stock price increasing 1% on Friday.

About share hike

SBI’s net profit for Q4 FY2024 stood at ₹20,698 cr, the highest quarterly profit ever at a 24% growth. The net profit for the same period a year ago was ₹16,694.5 Cr.

Net profit

SBI’s credit book is also likely to witness a growth of 14% to 16% for FY2025. This showcases optimism for the Indian market growth. For the same period, its deposit is expected to increase by 12% to 13%.

Credit book

Given this, many brokerage houses and analysts have given SBI stock a “Buy” tag with a target price of around ₹950.

Buy recommendation

As of the first half of Friday, the company’s stock was trading in a range of ₹816.65 to ₹832.05 compared to the previous closing of ₹819.80.

Stock price

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