SBI becomes India's 2nd-most valuable bank
SBI just hit a huge milestone, becoming only the sixth Indian company ever to cross a ₹10.45 lakh crore market cap.
That puts it ahead of ICICI Bank and makes it India's second-most valuable bank after HDFC.
SBI's profits jump 24% year-on-year
SBI's latest profits jumped 24% year-on-year, beating expectations by a big margin.
For anyone interested in finance or investing, it shows how strong India's largest public sector bank by market capitalisation is right now—and why analysts are excited about its future.
Analysts are so upbeat that they've revised target prices
The surge came from loan growth, higher net interest income and lower credit costs, along with one-off items, strong treasury and foreign-exchange income and controlled employee costs.
Analysts are so upbeat that they've revised their target prices for SBI shares (JM Financial: ₹1,250; Motilal Oswal: ₹1,300), with 42 "buy" ratings and zero "sell" calls at the moment.