SBI has seen long-build in the November series, with a 3 per cent rise in open interest and price so far, says the technical & derivative analyst.
Stocks to Watch Today: Shares of Apollo Tyres, Bharat Forge, Grasim, Indiabulls Housing Finance, IRCTC , MMTC, MTNL, SpiceJet and Strides Pharma are likely to see some action owing to Q2 results.
Last week the lender tied up its second Euro 150 million funding with German govt-owned KFW as part of solar partnership with India
The Nifty PSU Bank index hit a new high of 3,811.15 on Wednesday, and has zoomed 67 per cent from its 52-week low of 2,283.85, touched on June 20, 2022.
Here's how key constituents of the Nifty Bank index look on the charts.
Analysts see up to 31 per cent and 17.6 per cent upside in SBI and BoB's stock, respectively, from a one-year perspective
SBI hit life-time high, while Bank of Baroda registered a new 52-week high in trades on Monday after the banks reported strong Q2 earnings over the weekend. Here's what the charts indicate ahead.
SBI with its humongous size has reported consistently upbeat performance with this quarter seeing above par growth in earnings and return ratios, said analysts.
The lender's net interest income improved 12.83 per cent YoY to Rs 35,183 crore for Q2FY23, against Rs 31,184 crore last year
SBI Q2 preview: SBI's NII is expected to grow less than 10 per cent both, yearly and sequentially, and may come in the range of Rs 32,681 crore to Rs 33.537.6 crore
The stock of state-owned lender surpassed its previous high of Rs 586.1, which it had touched on October 25, 2022
The Nifty PSU Bank index hit a fresh 52-week high on Friday and has gained 15 per cent so far this month. The index can rally another 4 per cent.
SBI's core fundamentals continue to be on a strong footing and improvement in systemic growth should drive incremental re-rating for the stock, according to analysts
In the past one week, Nifty PSU Bank index has rallied 12 per cent as compared to 3 per cent rise in Nifty50
With asset quality improving, analysts see more growth
Operational performance is expected to remain positive across lenders, given steadier yields. Thus, robust recovery in earnings is expected in PSU banks, ICICI Securities said
SBI's loan book crosses Rs 6-trn mark