Mumbai: Brokerages have maintained a bullish view on SBI and some have raised target prices on the stock as the country’s largest lender reported a 55.3% rise in its standalone profit for the June quarter at Rs 6,504 crore.
and HDFC Securities maintained buy ratings on SBI and raised target prices from 2-23%.
“Asset quality held up well in a quarter that has challenged all banks with slippages at 2.5%…SBI is our top pick among public banks,” said Kotak Institutional Equities.
Macquarie, which raised target price by 23% to Rs 580, said asset quality performance of SBI was better than most peers.
ET Bureau
“While most peers reported numbers well above 3%, SBI’s slippages at 2.8% was a good outcome in a tough quarter,” said Macquarie.
ET Bureau
