Is it good time to buy SBI shares? – Buy call on State Bank of India with a target price of Rs 537. The current market price of State Bank of India is Rs 508.60.
Time period given by analyst is Intra Day when State Bank of India price can reach defined target.
What is official SBI website?
The www.onlinesbi.com service is a VeriSign certified secure site. It assures that during the session user is dealing with web-site of SBI.
State Bank of India, incorporated in the year 1955, is a banking company (having a market cap of Rs 457564.83 Crore).
State Bank of India key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2021.
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Why is SBI share so low?
Jain said that the fall in SBI shares has been triggered by the overall market correction creating selling pressure across the board. SBI shares also fell because of this reason. The technical analyst is still bullish on SBI shares and said that this stock will recover once the overall market situation improves.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 93266.94 Crore, down -9.83 % from last quarter Total Income of Rs 103430.64 Crore and up 6.00 % from last year same quarter Total Income of Rs 87984.33 Crore. The bank reported net profit after tax of Rs 7379.91 Crore in latest quarter.
Investment Rationale
Breakout above the rising trendline joining recent highs since February 2021 and MACD in buy mode
Promoter/FII Holdings
Promoters held 57.62 per cent stake in the company as of 30-Sep-2021, while FIIs owned 10.55 per cent, DIIs 24.17 per cent.
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