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SBI Gains 4%; BSE BANKEX Index Up 1.3%
Tue, 29 Oct 13:31

SBI Gains 4%; BSE BANKEX Index Up 1.3%Image source: peterschreiber.media/www.istockphoto.com

SBI share price has zoomed 4% and is presently trading at Rs 816.3.

Meanwhile, the BSE BANKEX index is at 59,116.1 (up 1.3%).

Among the top gainers in the BSE BANKEX index today are Federal Bank (up 8.3%) and ICICI Bank (up 1.7%).

Indusind Bank (down 2.6%) and AU SMALL FINANCE BANK (down 0.8%) are among the top losers today.

Over the last one year, SBI has moved up from Rs 556.4 to Rs 816.3, registering a gain of Rs 260.0 (up 46.7%).

On the other hand, the BSE BANKEX index has moved up from 48,173.3 to 59,116.1, registering a gain of 22.7% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 46.7%), ICICI Bank (up 43.5%) and Federal Bank (up 41.1%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 79,870.7 (down 0.2%).

The top losers among the BSE Sensex today are Tata Motors (down 4.6%) and Indusind Bank (down 2.6%). The most traded stocks in the BSE Sensex are Tata Motors and Tata Steel.

In the meantime, NSE Nifty is at 24,308.7 (down 0.1%). Maruti Suzuki and Tata Motors are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,049.1 to 79,870.7, registering a gain of 15,821.6 points (up 24.7%).

SBI Financial Update...

SBI net profit grew 5.0% YoY to Rs 196,808 million for the quarter ended June 2024, compared to a profit of Rs 187,360 million a year ago. Net sales rose 16.5% to Rs 1,182,425 million during the period as against Rs 1,014,600 million in April-June 2023.

For the year ended March 2024, SBI reported 20.6% increase in net profit to Rs 670,847 million compared to net profit of Rs 556,482 million during FY23. Revenue of the company grew 25.2% to Rs 4,391,885 million during FY24.

The current Price to earnings ratio of SBI, based on rolling 12 month earnings, stands at 10.5.

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