New Delhi: State Bank of India (SBI) Results 2024-25 will be declared on November 8, 2024, i.e., Friday. Ahead of the quarterly results announcement, SBI share price traded over 1 per cent lower today. SBI share price jumped nearly 9 percent in the last one month, around 4 percent in the six months and 46 percent in the past one year. The stock is listed as SBIN on BSE and NSE.
According to Axis Securities, SBI, which is the country’s largest public sector bank by market capitalisation, is projected to record net profit growth of around 12 percent at Rs 16,074 crore for the July-September quarter. The net profit was reported at Rs 4,330 crore in Q2 of 2023-24. Axis Securities has given a ‘Buy’ rating on the banking stock with a target price of Rs 1030.
Meanwhile, Kotak Institutional Equities predicted SBI’s operating profit to increase 10 percent YoY in the second quarter of the current financial year. The brokerage in its report estimate SBI is liklely to report 9 percent Year-on-Year NII growth on the back of 14% YoY loan growth. It also projected that the operating profit to increase 10 percent YoY (lower operating expenses growth), NIM normalisation, and lower treasury income.
Meanwhile, SBI economists projected Q2 real GDP growth of the country slowing down further to 6.5 per cent this fiscal year. The analysts were of the view that FY25 growth could come “closer to” 7 per cent. “There is some incipient pressure evident on the domestic economy. Basis our analysis of 50 meaningful leading indicators (both consumption as also demand centric), a dip looks plausible across select cohorts of agri, industry and services in Q2,” the SBI economists said.
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SBI Results today: SBI is all set to declare its July-September quarter Results of 2024-25 on November 8, 2024. Axis Securities recommended buying SBI share with a target price of Rs 1030. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
