
SBI share tanks 3% as Q1 profit misses estimates
SBI Q1 profit dropped 6.7% YoY to ₹6,068 cr as losses in treasury portfolio impacted state-owned bank’s non-interest income
SBI Q1 profit dropped 6.7% YoY to ₹6,068 cr as losses in treasury portfolio impacted state-owned bank’s non-interest income
The Sensex and Nifty are poised to edge lower in the opening trade on Monday, following soft cues from Asian peers and muted trends on SGX Nifty Futures.
In the BSE Bankex space, ICICI Bank and SBI were top gainers, followed by Axis Bank, Federal Bank, Kotak Mahindra Bank, Bank of Baroda, and HDFC Bank among others.
The Sensex and Nifty are poised to open higher on Friday, tracking mixed from global peers and positive trends on SGX Nifty.
India has done quite well during the pandemic in terms of navigating income shocks, says an SBI Research report.
Deposits with maturity period ranging from one year to two years will fetch 5.35% interest as against 5.30% earlier.
Post RBI policy announcements, Bank of Baroda rose 2.85%, followed by SBI, IndusInd Bank, HDFC Bank, and Federal Bank, which gained up to 2%.
GDP projections subjected to “significant uncertainties”; RBI expected to raise repo rate by 50 bps and CRR by 25 bps in upcoming June policy, says SBI Research.
In the end, consistency across parameters emerges as the hallmark of the best in the business.
Post Q4 results, most analysts have maintained a 'buy' rating on SBI shares, with a potential upside of 51% from current market price.