SBI Shares Upbeat As Brokerages Raise Price Target

SBI‘s share price was upbeat on Friday morning as several brokerages were impressed by the lender’s performance in the March quarter.

What Happened: SBI reported a significant 24% year-on-year increase in net profit to ₹20,698 crore for the quarter ended March, driven by robust demand for loans. This exceeded analyst estimates of ₹13,400 crore. The bank’s net interest income for the quarter rose to ₹41,655 crore, up 3.13% from ₹40,393 crore posted a year ago. SBI declared a final dividend of ₹13.70 per share for the year ending March 31.

Analyst Reactions: Nomura maintained its “buy” rating for the stock raising the price target to ₹1,000 from ₹825 previously. The brokerage said that the company posted all-round performance in the March quarter and raised its earnings per share estimates for SBI for financial years 2025 and 2026 by 15%.

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Jefferies has also maintained its “buy” rating on SBI and increased its price target to ₹980 from ₹810 previously. The research firm said that the loan growth of 15%-16% is better than most public banking peers.

Kotak Securities also has a “buy” rating for the stock with a target price of ₹950. The brokerage said that the public lender posted a 25% YoY earnings growth with steady loan growth and NIMs.

Emkay also maintained its “buy” rating for the stock with a price target of ₹950. The brokerage said that the bank posted a strong all-around show in the March quarter, with robust credit growth and healthy margins. The brokerage noted that the company’s net profit beat its estimates by 14%.

HDFC Securities also maintained its “buy” rating for the stock with a price target of ₹970. The analysts highlighted that the bank posted its best-ever quarterly profits on the back of strong fee income traction, healthy loan growth, and stable NIMs. The brokerage added that asset quality improved further with gross slippage run-rate moderating alongside strong recoveries.

Price Action: SBI’s share price was up 1.28% to trade at ₹830.30 as the markets opened on Friday.

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