SBI BANK shares jump on strong quarterly earnings

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The stock rose 3.44 per cent to settle at Rs 614.20 apiece on the BSE. On the NSE, it climbed 3.34 per cent to finish at Rs 613.80 apiece. In volume terms, 16.79 lakh shares were traded on the BSE and over 4.42 crore shares on the NSE during the day

State Bank of India | CMP: Rs 613.80 | The share price jumped over 3 percent after the company reported a strong, all-around performance for the quarter ended September 2022, leading to earnings well above what analysts had estimated. The state-owned lender said its net profit surged 74 percent from a year earlier on improved asset quality and healthy loan growth. Its net interest income rose 12.83 percent to Rs 35,183 crore for the reported quarter, keeping with the improving trend of the previous two quarters. Nomura has a buy call on the stock with target raised to Rs 690 per shar

Shares of State Bank of India on Monday soared over 3 per cent after the state-owned bank reported the highest-ever quarterly profit of Rs 13,265 crore for the second quarter of FY23.

The stock rose 3.44 per cent to settle at Rs 614.20 apiece on the BSE. On the NSE, it climbed 3.34 per cent to finish at Rs 613.80 apiece. In volume terms, 16.79 lakh shares were traded on the BSE and over 4.42 crore shares on the NSE during the day.

The market valuation of State Bank of India (SBI) advanced by Rs 18,250.83 crore to Rs 5,48,149.65 crore. The 30-share BSE Sensex jumped 234.79 points or 0.39 per cent to 61,185.15.

On Saturday, SBI posted the highest-ever quarterly profit at Rs 13,265 crore, up 74 per cent year-on-year, for the September quarter of FY23, buoyed by robust loan sales, higher interest income and lower provisions. The country’s largest lender had earned a profit of Rs 7,627 crore in the same quarter a year ago.

Shares of State Bank of India on Monday soared over 3 per cent after the state-owned bank reported the highest-ever quarterly profit of Rs 13,265 crore for the second quarter of FY23.

The stock rose 3.44 per cent to settle at Rs 614.20 apiece on the BSE. On the NSE, it climbed 3.34 per cent to finish at Rs 613.80 apiece. In volume terms, 16.79 lakh shares were traded on the BSE and over 4.42 crore shares on the NSE during the day.

The market valuation of State Bank of India (SBI) advanced by Rs 18,250.83 crore to Rs 5,48,149.65 crore. The 30-share BSE Sensex jumped 234.79 points or 0.39 per cent to 61,185.15.

On Saturday, SBI posted the highest-ever quarterly profit at Rs 13,265 crore, up 74 per cent year-on-year, for the September quarter of FY23, buoyed by robust loan sales, higher interest income and lower provisions. The country’s largest lender had earned a profit of Rs 7,627 crore in the same quarter a year ago.

The total income of the SBI group rose to Rs 1,14,782 crore in the quarter under review, compared to Rs 1,01,143.26 crore in the year-ago period.

 *money purifier blog