SBI hits over 3-month high ahead of Q4 results; stock gains 8% in one month
SBI is a sector proxy that benefits from its strong liability franchise and continued favourable sector tailwinds
Shares of State Bank of India (SBI) hit over three-month high of Rs 590.10, up 1.4 per cent on the BSE in Tuesday's intra-day trade, ahead of its January-March quarter (Q4FY23) earnings. The largest state-owned back is schedule to announce its Q4 results on Thursday, May 18, 2023. The stock had hit a record high of Rs 629.65 on December 15, 2022.
Currently, SBI is trading at its highest level since January 25, 2023. In the past one month, the stock has outperformed the market by surging 8.5 per cent. In comparison, the S&P BSE Sensex and Nifty50 gained 3.8 per cent, while the Nifty PSU Bank index gained 4.2 per cent during the period.
SBI is the largest public sector bank in India with strong retail portfolios and best operating metrics in the PSU banking space. The bank has witnessed continued improvement in asset quality coupled with healthy PCR.
SBI is a sector proxy that benefits from its strong liability franchise and continued favourable sector tailwinds
Shares of State Bank of India (SBI) hit over three-month high of Rs 590.10, up 1.4 per cent on the BSE in Tuesday's intra-day trade, ahead of its January-March quarter (Q4FY23) earnings. The largest state-owned back is schedule to announce its Q4 results on Thursday, May 18, 2023. The stock had hit a record high of Rs 629.65 on December 15, 2022.
Currently, SBI is trading at its highest level since January 25, 2023. In the past one month, the stock has outperformed the market by surging 8.5 per cent. In comparison, the S&P BSE Sensex and Nifty50 gained 3.8 per cent, while the Nifty PSU Bank index gained 4.2 per cent during the period.
SBI is the largest public sector bank in India with strong retail portfolios and best operating metrics in the PSU banking space. The bank has witnessed continued improvement in asset quality coupled with healthy PCR.