your password has been reset successfully, Please login again.

Brokerage Aggressively Confident Post-SBI Q3 Results

Brokerages set hopes on SBI post-Q3 December results.
BY BEx Bureau
BusinessEx
Feb 04, 2019

SBI (State Bank of India) released Q3 results and accounted net profit INR 4,709.15 crore in December whilst a loss of INR 1,886.7 crore. Post-Q3 results, the brokerages firmly hold their assertive and optimistic attitude toward SBI investments.

In the filing, the bank reported an increase in consolidated income from INR 74,190.87 crore to INR 84,350.11 crore. At present, many brokerage firms retain Buy on SBI, inclusive of Jefferies and Nomura. (Source: ET)

Another foreign investor named HSBC has held Buy on the bank, aiming at a target price of INR 370. HSBC said that valuations are looking undemanding despite high visibility of ROE. It sees encouraging momentum in loan growth and net interim margin. (source: ET news)

On the contrary, asset valuation has augmented for the lenders whilst NPA has reduced to 8.71 per cent. Thus, it has facilitated in sliding down the net NPA to 3.95 per cent. Further, the provision for bad loans has decremented to INR 14,143.74 in Q3.

Assessing the overall performance of SBI, the bank is ahead of analysts assumption and performed extraordinarily in Q3.

Please add your Comment
SIMILAR News
April 22, 2020
In unfavourable conditions, Indian companies are taking panicked decisions and opting for bridge rou ...More
By Jaspreet Kaur
April 04, 2020
Aavishkaar has wholly exited from Sara Plast, which is a portable sanitation services company ...More
By Jaspreet Kaur
March 10, 2020
The startup essentially concentrates on hosting online events; its funding round was led by Accel In ...More
By Jaspreet Kaur
March 07, 2020
Singularity Automation is concentrated on firms working in the shared accommodation industry to hand ...More
By Jaspreet Kaur
February 28, 2020
MinionLabs essentially gives real-time understanding of energy consumption in electric appliances ...More
By Jaspreet Kaur
February 18, 2020
JSW Energy has got into a share procurement concord with GMR Energy Ltd to buy 100 per cent share in ...More
By Jaspreet Kaur
February 17, 2020
The Bengaluru-based company, NestAway Technologies Pvt. Ltd has bought apartment management and sec ...More
By Jaspreet Kaur
February 01, 2020
As per the agreement, Indiabulls will offer its share to t Embassy's stakeholders considering a swap ...More
By Jaspreet Kaur
January 27, 2020
As per the concord, the Germany-based company will buy nearly 99 per cent of the equity share capita ...More
By Jaspreet Kaur
January 25, 2020
The Noida-based payment solutions firm, Pine Labs Pvt. Ltd has secured undisclosed funding from the ...More
By Jaspreet Kaur
January 24, 2020
Jaipuria Group-backed PepsiCo bottler has lately invested INR 10 crore in pre-Series A funding round ...More
By Jaspreet Kaur
January 23, 2020
It is the second transaction between Subash Chandra-led Essel Group and Adani Group; The deal happen ...More
By Jaspreet Kaur