
Should investors buy, sell or hold SBI shares after Q4 results?
The shares of SBI rose over 2% in intraday trade on Friday after the PSU bank reported 83% jump in net profit.
The shares of SBI rose over 2% in intraday trade on Friday after the PSU bank reported 83% jump in net profit.
The banking stock has declined as much as 7% in the past three sessions as investors resorted to profit booking ahead of its fourth quarter earnings report.
The PSU lender’s total business crossed the ₹21 lakh crore milestones in FY23, aided by double-digit growth in advances and deposits in the March quarter of 2022.
The board of the PSU lender is scheduled to meet on April 18 to consider the fundraising proposal.
The PSU lender has sold its entire 10.01% stake in the asset reconstruction company in a cash transaction.
Most brokerages have assigned “Buy” ratings to SBI shares after Q3 results, with a potential upside of 28% from the current market price.
SEBI has given nod to reclassification of the government’s shareholding in IDBI Bank as ‘public’ post its stake sale in the lender.
The board of SBI is scheduled to meet on January 3 to consider and approve a proposal to raise up to ₹10,000 crore through infrastructure bonds.
The PSU bank to raise up to ₹1,500 crore this fiscal, with a base issue size of ₹500 crore and a green shoe option of up to ₹1,000 crore.
The DIPAM on Wednesday extended the deadline to submit bids for the privatisation of IDBI Bank to January 7, 2023, from December 16, 2022.