Axis Securities Recommends PSU Bank Stock To Buy For 40% Potential Return

Axis Securities is upbeat on PSU banking stock, State Bank Of India and recommended investors to buy with a target price of Rs 750 apiece. Current market price of SBI is Rs 534.25 apiece on BSE. If you buy State Bank Of India shares now, you can fetch potential 40% return. SBI has a market capitalisation of Rs 4,76,797.39 crore. Check details below:

1. State Bank Of India Stock Performance

Current market price of SBI is Rs 534.25 apiece with intraday fall of 0.48%. The stock's 52-week high is Rs 629.65 apiece and 52-week low is Rs 425.00 apiece, respectively.

2. State Bank Of India Return & Financial Performance

The stock gave a return of 13% in last 1-year, 87% return in last 3-years, and 105% return in last 5-years. It fell 11% in last 3-months and gave a little less than 1% return in last 6-months.

The company for the quarter ended December 31, 2022 declared a consolidated total income Rs 127,218.97 crore, up 10.83 % from last quarter Total Income of Rs 114,782.48 crore. The large cap banking company declared its net profit after tax at Rs 15,477.22 crore in latest quarter.

3. About State Bank Of India

State Bank of India (SBI) is a Fortune 500 company. It is an Indian Multinational, Public Sector Banking and Financial services statutory body headquartered in Mumbai. The rich heritage and legacy of over 200 years, accredits SBI as the most trusted Bank by Indians through generations, according to its official website.

Disclaimer

The stock has been picked from the brokerage report of Axis Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.