State Bank of India shares climb over 3% to ₹1,066
Business
SBI's stock climbed over 3% to ₹1,066 on Wednesday, a day after the bank posted quarterly results.
The buzz was real: more than 1.88 crore shares changed hands, and trading value crossed ₹1,900 crore as investors reacted to the good news.
HSBC rates SBI as buy
Analysts remain upbeat about SBI's future. HSBC rated its buy rating, pointing to solid loan and deposit growth last quarter.
Even with some challenges ahead, like an RBI directive on $5 billion in short rupee positions, many experts see SBI as a standout among big banks.
SBI's one-year return of nearly 38.75% leaves Nifty 50's 6.35% in the dust. Plus, with a price-to-earnings ratio of just 11.2, SBI looks like a pretty attractive bet right now.