SBI's share price on the NSE saw a whopping 10% increase on Monday due to the positive sentiment surrounding the exit poll prediction of a BJP-win. This resulted in the bank's market capitalization crossing Rs 8 lakh crore for the first time. Analysts are also bullish on the stock, with a consensus 'buy' recommendation and a potential 11% upside. SBI also reported a strong profit in its March quarter results, further boosting investor confidence.
The State Bank of India (SBI)'s market capitalisation exceeded ₹8 lakh crore on Monday, marking a major milestone for the country's largest bank. This milestone was achieved as SBI's shares hit a record high of ₹907, increasing by over 9 per cent during a rally in the stock market. SBI is now the third-largest bank in India by market cap, not far behind ICICI Bank in the second spot. The bank's shares have seen a remarkable increase of over 50 per cent in just six months.
As investors prepare for the trading session on March 6, top brokerages on Dalal Street have released their recommendations for a dozen stocks, including Indraprastha Gas Ltd, Mahanagar Gas Ltd, Tata Motors, SBI Life, Grasim Industries, REC, PFC, Infosys, and TCS. Jefferies, Morgan Stanley, CLSA, and HSBC share their outlooks and price targets for each stock.