SBI m-cap nears Rs 6 trillion as stock hits new peak; surges 17% in 1 month

MOFSL estimates PSBs to sustain ongoing earnings traction, aided by improved loan growth, margin stability, and controlled credit costs

Shares of State Bank India (SBI) hit a new high of Rs 659.50, up nearly 2 per cent on the BSE in Tuesday's intraday trade, amid heavy volumes on expectation of healthy profitability over the medium term.

In the past one month, the stock of the country's largest public sector bank (PSB) has outperformed the market by surging 17 per cent. In comparison, the S&P BSE Sensex and the Nifty 50 are up nearly 9 per cent, while the Nifty PSU Bank index gained 14 per cent during the period.

A sharp rally in the stock price has pushed the