What's capping rally in SBI shares despite record net profit in Q4FY23?

India's largest state-owned bank, State Bank of India, reported standalone net profit of Rs 16,694.51 crore for Q4FY23

Given the uncertain macroeconomic conditions, most brokerages have turned slightly cautious on the pace of growth in State Bank of India's (SBI's) earnings going ahead.

While they don't see any significant risk arising for now, its sheer balance sheet size and systematic importance has nudged them to cut earnings estimates for fiscal year 2023-24 (FY24) and 2024-25 (FY25) up to 5 per cent.

 

India's largest state-owned bank, on Thursday, reported standalone net profit of Rs 16,694.51 crore for Q4FY23.  For the full fiscal