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[hfe_template id='11223'] [ad_1] Shares of State Bank of India (SBI) will be in focus on Thursday after the country’s largest lender announced plans to raise up to $3 billion in the current financial year. In a regulatory filing on Wednesday, SBI said its Executive Committee of the Central Board will meet on May 20 to consider long-term fundraising options. The committee will “examine the status and decide on long-term fundraising in single/multiple tranches of up to USD 3 billion through a public offer and/or private placement of senior unsecured notes in US dollars or any other major foreign currency during FY2025-26,” the bank stated. Also Read: Stocks in news: Patanjali Foods, ITC Hotels, Tata Power, SBI, HUL, Balu Forge SBI Q4 earnings Live Events On May 3, SBI reported a 10% year-on-year decline in standalone net profit to Rs 18,643 crore for the quarter ended March 2025, compared to Rs 20,698 crore in the same period last year. Total income rose to Rs 1,43,876 cro...

[hfe_template id='11223'] [ad_1] Shares of India’s largest PSU lender State Bank of India (SBI) jumped 2.6% to hit a day’s high of Rs 713.55 on the BSE today after the global brokerage firm Citi issued a double upgrade on the stock, moving its rating from ‘sell’ to ‘buy’ and raising the target price to Rs 830. The revised price target suggests an upside potential of 19.4% in the stock from Monday’s closing price. Citi’s latest upgrade comes on the back of strong growth visibility, supported by Xpress Credit traction, a robust corporate pipeline, and an accelerated rollout of home loans (HL). The brokerage firm highlighted SBI’s ability to contain unsecured retail slippages at 0.5%, along with a reduction in the SMA-2 pool, which is expected to curb credit costs. Citi also pointed out that SBI’s valuations remain inexpensive, trading at 0.85x book value, supported by a 1% return on assets (RoA) and a 15% return on equity (RoE). Following this optimistic outlook, investor ...

[hfe_template id='11223'] [ad_1] State Bank of India (SBI) shares will be in focus on Friday after the public sector lender reported an 84% year-on-year (YoY) rise in standalone net profit for the December quarter, reaching Rs 16,891 crore compared to Rs 9,163 crore in the same period last year. The profit exceeded Street estimates of Rs 16,219 crore. SBI's net interest income (NII) for Q3FY25 increased by 4.09% YoY to Rs 41,620 crore from Rs 39,816 crore reported in the year-ago period. Meanwhile, the net interest margin (NIM) contracted by 19 bps YoY and 12 bps QoQ to 3.15% in the reported quarter. SBI's operating profit for Q3FY25 grew by 15.81% YoY to Rs 23,551 crores. Also Read: Will RBI cut interest rates? Morgan Stanley identifies stocks that could benefit the most The interest income in Q3FY25 stood at Rs 1,17,427 crore, up 10% over Rs 1,06,734 crore reported in the corresponding quarter of the last financial year. State Bank of India Q3 Credit Growth The...

[hfe_template id='11223'] [ad_1] Shares of the state-owned State Bank of India (SBI) fell by 2.2% on Thursday to an intraday low of Rs 820.10 on the BSE as the company announced the appointment of Rama Mohan Rao Amara as the Managing Director (MD) of the bank. “Vide Notification No. 2/1/2024-BO.I dated 18.12.2024, issued by Department of Financial Services, Ministry of Finance, Government of India, it has been notified that- “In exercise of powers conferred by clause (b) of section 19 read with sub-section (1) of section 20 of the State Bank of India Act, 1955 (23 of 1955), the Central Government hereby appoints Shri Rama Mohan Rao Amara, Deputy Managing Director, State Bank of India as Managing Director in State Bank of India,” said the company in its filing to the exchange. The company further informed that the appointment has been made for a period of 3 years, which will take effect from the date of assumption of the charge of his post. Rama Mohan Rao Amara previously...

[hfe_template id='11223'] [ad_1] Shares of rate-sensitive stocks - banks and NFBCs - rallied up to 4% on Wednesday morning after the Reserve Bank of India (RBI) changed its policy stance to 'neutral' from 'withdrawal of accommodation' earlier. Led by gains in financials, the Sensex also jumped 500 points. The change in stance is being seen as a step towards the beginning of a rate cycle in December. Shares of NBFCs led the gains as at the outset of a rate cut cycle NBFCs benefit more than banks. Shriram Finance was the top gainer in Nifty and was up over 4%. Other NBFCs Cholamandalam Investment and Bajaj Finance were up around 3% each. Nifty Bank was also up around 1%, with Axis Bank, SBI, PNB, and ICICI Bank leading the gains with an upside of 2-3% each. Other rate-sensitives like auto and real estate stocks also rallied up to 6% post the announcement. "This change in RBI's stance opens the door for possible interest rate cut in December or Febr...