Net profit fell to 9,164 crore rupees ($1.1 billion) in its fiscal third quarter from Rs 14,205 crore in the same period a year earlier, SBI reported in a stock exchange filing
The Nifty PSU Bank index was the top performing sector post Interim Budget on Thursday; the index was up almost 12 per cent in the last four days.
For deposits maturing in seven days to forty-five days, SBI increased interest rates by 50 basis points (bps).
Stocks to watch on Monday, December 18, 2023: Shares of Zee Entertainment are likely to be in focus as company seeks an extension to complete the proposed merger with Sony India.
At present, SBI has a 60 per cent stake in the pension fund
Closing Bell on November 23, 2023: In the broader market shares of realty, sugar and textile companies logged strong gains. SmallCaps too outperformed on Thursday.
Stocks to watch on Thursday, November 23, 2023: Honasa Consumer in its first result filing post listing reported a in net profit to Rs 29.40 crore for Q2FY24 as against a loss of Rs 15 crore in Q2FY23
Shares of RBL Bank slipped 9 per cent to Rs 230.555, while those of SBI Cards and Payment Services plunged 7 per cent to Rs 720.40 in intraday trade
Meanwhile, SBI looks range-bound on charts, while shares of SBI Cards & Payments can pullback up to 7 per cent from present levels.
Thus far in the calendar year 2023, the stock has slipped 6 per cent, as against nearly 6 per cent rally in the Sensex.
Stocks to watch on Monday, November 06, 2023: Shares of PSU Banks are likely to hog the limelight following Q2 results announced by major banks over the weekend.
For the quarter ended September 2023, PNB reported a solid 327 327 per cent YoY surge in net profit, while Canara Bank's net profit grew 42.8 per cent.
Among the stocks in focus on Monday, Shree Renuka Sugars looks strong on charts, while Inox Green Energy seems weak.
Stocks to watch on Monday, September 25, 2023: Canara Bank, Delta Corp, Granules, Hindustan Copper, Indiabulls Housing and Manappuram Finance are the six stocks in F&O ban period today.
Post Q1 results, major banking stocks have lost the upside bias. Most stocks are facing hurdles at upper levels.
SBI Q1 preview: The net profit estimates for Q1FY24 range from Rs 13,760 crore to Rs 16,340 crore
Buy SBI Rs 610 Call option and simultaneously Sell Rs 630 Call of the July series, suggests Nandish Shah, Sr. derivatives & technical research analyst of HDFC Securities.
Stocks to watch on July 14, 2023: Bandhan Bank, JSW Energy, Just Dial and Kesoram Industries among prominent firms scheduled to announce June quarter earnings on Friday.
Stocks to watch on July 10, 2023: BHEL, Delta Corp, Granules and India Cements are the four stocks in F&O ban period on Monday.
Nearly two decades after the Nayak committee's report, the competitive landscape in the financial world has completely changed