Buy State Bank of India, target price Rs 950: ICICI Direct

ICICI Direct has a buy call on State Bank of India with a target price of Rs 950. The current market price of State Bank of India is Rs 818.1 Time period given by analyst is a quarter when State Bank of India price can reach defined target. ICICI Direct recommended to keep stoploss at Rs 163. State Bank of India, incorporated in 1955, has a market cap of Rs 729319.95 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-2024.

Financials
For the quarter ended 30-09-2024, the company has reported a Consolidated Total Income of Rs 163802.38 crore, up 7.68% from last quarter Total Income of Rs 152125.05 crore and up 13.55 % from last year same quarter Total Income of Rs 144256.12 crore. The bank has reported net profit after tax of Rs 19782.76 crore in the latest quarter.

Promoter/FII Holdings
Promoters held 57.51 per cent stake in the company as of 30-Sep-2024, while FIIs owned 10.71 per cent, DIIs 23.94 per cent.