STATE BANK OF INDIA (SBIN)
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HSBC trims SBI price target, lifts FY27-29 EPS estimates 4-8%
HSBC cut its price target on State Bank of India while raising EPS estimates by 4% to 8% for FY2027-2029, citing stronger-than-estimated NIM momentum and operating leverage. The revision followed Q2 results showing a 15% year-on-year profit rise to Rs 23,038 crore, a loan book above Rs 52 lakh crore and a 10% increase in interest income. Brokerage targets now range from Rs 1,225 to Rs 1,350, with 42 of 49 analysts rating the stock a buy and Jefferies naming SBI its top pick from the sector.
SBI Q2 net profit rises 14% to ₹23,038 crore on stake sale
Net profit for the quarter ended September 30, 2026 rose to ₹23,038 crore from ₹20,160 crore a year earlier, with net interest income up 14.7% to ₹49,143 crore and total advances up 18% to ₹52.08 lakh crore. The profit increase was aided by gains from the sale of SBI's stake in SBI Fund Management, while net interest margin held at 2.90%. Chairman CS Setty retained the bank's FY27 loan and deposit growth targets despite credit growth running ahead of guidance, and said a 50 bps repo hike could moderately temper consumer credit growth.
SBI Q2 standalone profit rises 14% to ₹23,038 crore
State Bank of India reported standalone net profit of ₹23,038 crore for the September quarter, up 14% year-on-year, while net interest income rose 14.7% to ₹49,143 crore and beat a CNBC-TV18 poll estimate of ₹47,901 crore. Asset quality remained stable in the quarter, though the stock cooled from its highs following the results. The profit growth came alongside the double-digit core income expansion, with NII climbing 15% year-on-year in the reporting period.
SBI Q2 Net Profit Seen Up 45% on Stake-Sale Gains
State Bank of India is expected to report roughly a 45% year-on-year rise in standalone net profit for Q2 FY27, with broking consensus estimates spanning a range of profitability forecasts. The gain is driven by healthy growth in net interest income and other income, including proceeds from stake sales in SBI Mutual Fund and NSE. SBI headlines a heavy November 3 results slate that also includes NSE, Bajaj Finserv, Bajaj Holdings, Lupin, Solar Industries, MCX and Fortis Healthcare, while ITC, Marico and NALCO shares stay in focus after their numbers.
SBI weighs cyber insurance claim over suspected customer data leak
SBI may seek a claim under a Rs 1,425-crore cyber insurance policy with Oriental Insurance following a suspected leak of customer data, people familiar with the matter told ET. "SBI is in the process of notifying the insurer about the claim," said a person aware of the development. Both SBI and state-run Oriental Insurance did not respond to requests for comment.
Intelligence feed· 2 articles in 1440m
SBI's highest share price target indicates an upside potential of over 40% after Q2 results; Details here - CNBC TV18
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SBI share price: Brokerages retain Buy ratings after Q2 results
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