Strong Q2 results drive earnings, target price upgrades for SBI, BoB

State Bank of India (SBI), and Bank of Baroda's (BoB's) remarkable performance in the July-September 2022 quarter of the current fiscal (Q2FY23) has resulted in earnings, and target upgrades pouring in from brokerages. Analysts see up to 31 per cent and 17.6 per cent upside in SBI and BoB's stock, respectively from a one-year perspective. Both banks had announced their respective Q2-FY23 numbers on Saturday.

At the bourses, shares of SBI hit a fresh record high of Rs 623, surging 4.8 per cent intra-day trade on Monday, while those of BoB claimed a new 52-week high of Rs 161.5, up