What should investors do with SBI post Q3 show: Buy, sell or hold?

Started by NiveRoshni, Feb 05, 2021, 10:57 PM

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NiveRoshni

What should investors do with SBI post Q3 show: Buy, sell or hold?



Total deposits grew at 13.64 percent YoY, out of which current account deposit grew by 11.33 percent YoY, while saving bank deposits rose by 15.99 percent YoY.

State Bank of India (SBI) shares were locked in 10 percent upper circuit in early trade on February 5 with stock price touching 52-week high of Rs 390.60 after the company announced its December quarter numbers.

The country's largest lender on February 4 reported a 6.9 percent year-on-year decline in standalone profit at Rs 5,196.22 crore for the quarter ended December 2020, dented by higher provisions and slower NII growth.

Net interest income, the difference between interest earned and interest expended, grew by 3.7 percent year-on-year to Rs 28,819.94 crore in Q3FY21, meeting analysts' estimates. NII in Q3FY20 inflated by recovery of Essar Steel account.

Total deposits grew at 13.64 percent YoY, out of which current account deposit grew by 11.33 percent YoY, while saving bank deposits rose by 15.99 percent YoY.

The net interest margin remained stable at 3.12 percent sequentially, but contracted 21 bps year-on-year.


Source : https://www.moneycontrol.com/news/business/stocks/what-should-investors-do-with-sbi-post-q3-show-buy-sell-or-hold-6452201.html

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