State Bank of India, incorporated in the year 1955, is a banking company with a market cap of Rs 352,031.30 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-2020.
Investment rationale
The brokerage has raised the target price of the banking giant as the lender’s management is positive on loan growth and asset quality.
Financials
For the quarter ended 31-12-2020, the banking company has reported a Consolidated Total Income of Rs 97,182.15 Crore, up 1.90 per cent from last quarter’s Total Income of Rs 95,373.50 Crore and up 1.88 per cent YoY for same quarter’s Total Income of Rs 95,84.28 Crore. The bank has reported net profit after tax of Rs 6,257.55 Crore in latest quarter.
Promoter/FII Holdings
Promoters held 56.9 per cent stake in the company as of Dec 30, 2020, while FIIs held 10.9 per cent, DIIs 24.8 per cent and public and others 7.4 per cent.
