SBI Share Price Target: Brokerages Bullish On State Bank Of India Stock - Buy, Sell or Hold?

As Sensex and Nifty rebounded on Friday, buoyed, among others by Bank Nifty, one of the stocks that zoomed was State Bank of India ( SBI ). The shares of SBI ( NSE , BSE: SBIN) zoomed over 4.52 per cent during the session closing at Rs 816.05 apiece. Friday's rally in SBI stocks came days after the PSU bank raised Rs 10,000 crore via non-convertible long-term bonds. The bank said that it had issued bonds of Rs1 lakh each at a coupon of 7.23% for a period of 15 years. The bonds are also expected to be released on the BSE and National Stock Exchange.

SBI share price today

After closing lower over the past few sessions, the shares of SBI closed in the green zone on Friday, November 22. After opening at Rs 786, the SBI stock made an intraday high of Rs 819.95 and closed at Rs 816.05 apiece - higher by 4.52 per cent.

SBI Share Price Target 2024-25: What Kotak, JM Financial and SMIFS Say About SBI Share Price

Meanwhile, brokerages are bullish on the SBI stock, with at least three of them giving a buy rating for SBIN. In its note on November 22, SMIFS Research said that their target price for SBI stock (State Bank of India) is Rs 860, with a stop loss of Rs 770.

Kotak Institutional Equities also has a higher fair price for the SBI stock. At the time when the SBI share price was Rs 803, Kotak Institutional Equities listed a 12-month fair price of the stock at Rs 975, higher than the current market price of the scrip.

JM Financial, in its report, said that the State Bank of India stock has a 'BUY' rating with a target price of Rs 1,050 apiece. 

(Disclaimer: The views expressed in this article are purely informational and Republic Media Network does not vouch for, promote or endorse any opinions stated by any third party. Stock market and Mutual Fund investments are subject to market risks and readers are advised to seek expert advice before investing in stocks, derivatives and Mutual Funds.)