SBI's stock hits 52-week high after YES Bank stake sale
SBI's stock just hit a fresh 52-week high, reaching ₹880.40 on Wednesday after the bank sold a chunk of its YES Bank shares to Japan's Sumitomo Mitsui Banking Corporation (SMBC).
The deal—worth about ₹8,889 crore—dropped SBI's stake in YES Bank to roughly 10.8%.
SBI's market value surpasses ₹8tn
This big move pushed SBI's market value past ₹8 trillion, putting it among an elite group of Indian companies.
Brokerage firms say the sale gave a nice bump (2-3%) to SBI's book value, which is reflected in its rising share price.
Analysts are bullish on SBI's prospects
Analysts are upbeat about SBI thanks to possible interest rate cuts, GST reforms, and a planned ₹25,000 crore capital boost.
Even with some margin pressure, steady loan growth and better asset quality are keeping returns stable.
CLSA even thinks SBI could cross $100 billion in market cap within a year—pretty impressive for India's largest bank!