SBI hits over three-month high, surges 37% from October lows

Analysts believe the worst in terms of asset quality is behind SBI. They expect meaningful reduction in NPA and strong earnings growth in FY2020-21.

Shares of State Bank of India (SBI) hit an over three-month high of Rs 335, up 2 per cent on the BSE on Monday. The stock of the state-owned bank was trading at its highest level since July 30, 2019.

In the past nine trading days, SBI has outperformed the market by gaining 9 per cent after the Supreme Court judgement on Essar Steel resolution came in favor of financial creditors on November 15, 2019. In comparison, the S&P BSE Sensex has gained 1 per cent during the same period.

With today’s gain, SBI has rallied 37 per