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    Buy State Bank of India, target price Rs 635: Edelweiss

    Synopsis

    State Bank of India, incorporated in the year 1955, is a banking company (having a market cap of Rs 537886.35 Crore).

    State Bank of India | Buy |Agencies
    Promoters held 57.57 per cent stake in the company as of 30-Jun-2022, while FIIs owned 9.62 per cent, DIIs 25.09 per cent.
    Edelweiss has buy call on State Bank of India with a target price of Rs 635. The current market price of State Bank of India is Rs 602.65. State Bank of India, incorporated in the year 1955, is a banking company (having a market cap of Rs 537886.35 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-2022.


    Financials
    For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 114782.48 Crore, up 21.43 % from last quarter Total Income of Rs 94524.30 Crore and up 13.49 % from last year same quarter Total Income of Rs 101143.25 Crore. The bank reported net profit after tax of Rs 14752.00 Crore in latest quarter.

    Investment Rationale
    Price correction now seems over as volumes are rising with price moving out of consolidation.

    Promoter/FII Holdings
    Promoters held 57.57 per cent stake in the company as of 30-Jun-2022, while FIIs owned 9.62 per cent, DIIs 25.09 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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