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HomeSHARE MARKETThis PSU Bank Stock Is Ready For New High; Hold For 3...

This PSU Bank Stock Is Ready For New High; Hold For 3 Months; Know The Complete Details

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PSU Bank stocks to BUY: The market was extremely bullish in the last trading session for the financial year of 2023-24. Sensex gained 639 points to close at 73635 and Nifty gained 203 points to close at 22327 points. 

A strong rise of 2.262 percent was recorded in the PSU Bank index. In this bull market, the brokerage has chosen the State Bank of India (NSE: SBIN) for short-term investors for 3 months. This share closed at Rs 753 (SBI Share Price) with a rise of 2.7 percent.

SBI Share Price Target

Brokerage has advised buying this government bank’s stock for the next 3 months. The stock should be purchased in the range of Rs 734-748.

The target for the next three months is Rs 838, and the stop loss is Rs 698. In the correction of March, this share had slipped to the level of Rs 720. On March 7, it made a new all-time high of Rs 793.

Structural Uptrend In PSU Bank Index

In its report, the brokerage said that there has been a structural change in the Nifty PSU Bank index. It remains in a continuous uptrend. 

In recent times, this stock has made a range of 790-720. Now it is preparing to come out of this range. In such a situation, there is an earning opportunity for short-term investors.

SBI Share Price History

The all-time high for SBI shares is Rs 794 and 52 weeks low is Rs 506. In a month, the stock returned only 1.5%. 

The return in the last three months has been 15 percent, so far this year it has given a return of 18 percent and in one year it has given a return of about 50 percent.

About State Bank of India Company 

State Bank of India (SBI) is India’s largest and oldest bank. It is a public-owned corporation. The company is registered with an office in Mumbai. 

The company has been established as an Indian Multinational, Public Sector Banking and Financial services legal body. 

Due to its rich history and its legacy of more than 200 years of its founding in the British East India Company (established as the Bank of Calcutta, in 1806), it is the most known Bank by Indians across generations. 

It has over 13500 branches throughout India. It is a major financial institution that offers bank services such as savings accounts, fixed-deposits educational loans for individuals, personal loans SME loans, and agricultural banking to satisfy all your banking needs. 

It holds the majority stake in five affiliate banks. SBI is home to more than 155 branches spread across around 30 countries abroad which includes the numerous locations in the US, Canada, and Nigeria. 

It is owned by the Reserve Bank of India and owns around 60 percent of the State Bank of India.

Fundamental Analysis of State Bank of India

Market Cap₹ 6,70,757 Cr.
Current Price₹ 752.95
52-wk High₹ 794
52-wk Low₹ 519
Stock P/E9.75
Book Value₹ 402
Dividend1.50 %
ROCE5.20 %
ROE16.8 %
Face Value₹ 1.00
P/B Value1.87
OPM45.0 %
EPS₹ 71.5
Debt₹ 49,89,687 Cr.
Debt to Equity13.9

State Bank of India Share Price Target 2024 To 2030

Year1st Target2nd Target
2024₹700₹821
2025₹825₹864
2026₹870₹900
2027₹912₹924
2028₹935₹954
2029₹967₹989
2030₹1000₹1121
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State Bank of India Shareholding Pattern

Promoters Holding
Dec 202257.50%
Mar 202357.49%
June 202357.47%
Sept 202357.49%
Dec 202357.49%
FII Holding
Dec 202210.09%
Mar 20239.89%
June 202310.36%
Sept 202310.72%
Dec 202310.91%
DII Holding
Dec 202225.36%
Mar 202325.20%
June 202324.83%
Sept 202324.36%
Dec 202324.15%
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Govt. Holding
Dec 20220.03%
Mar 20230.03%
June 20230.03%
Sept 20230.03%
Dec 20230.03%
Public Holding
Dec 20227.03%
Mar 20237.40%
June 20237.30%
Sept 20237.41%
Dec 20237.40%

State Bank of India Share: Last 5 Years’ Financial Condition

To better understand how the market is performing, let’s look at the outlook of this share in the previous years. 

However, investors should be aware of the risks and the market conditions before making any investment decision.

Last 5 Years’ Sales:

2019₹ 253,322 Cr
2020₹ 269,852 Cr
2021₹ 278,115 Cr
2022₹ 289,973 Cr
2023₹ 419,802 Cr
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Last 5 Years’ Net Profit:

2019₹ 3,351 Cr
2020₹ 21,140 Cr
2021₹ 23,888 Cr
2022₹ 37,183 Cr
2023₹ 66,109 Cr

Last 10 Years’ Profit Growth:

10 Years:12%
5 Years:76%
3 Years:50%
Current Year:46%

Last 10 years’ Return on Equity (ROE):

10 Years:8%
5 Years:10%
3 Years:13%
Last Year:17%

Sales Growth Over 10 Years:

10 Years:8%
5 Years:9%
3 Years:9%
Current Year:28%

Conclusion

This article is a complete guide about State Bank of India Share. This information and forecasts are based on our research, company fundamentals, history, experiences, and technical analyses. 

Also, We have discussed the share’s prospects and growth potential in detail.

This information will help you in your further investment. 

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