Big bang of SBI! Share price will break all the records of boom, it has given tremendous returns in 3 years – sbi share price 180 percent return in 3 years what’s next for this multibagger psu bank stock
SBI Share Returns
SBI’s share is behind Bank of Baroda and Punjab National Bank in terms of returns over the past year. Bank of Baroda shares have returned 51 per cent in one year, while Union Bank shares have returned 65 per cent over the period. Shares of PNB and Canara Bank have filled investors’ pockets with returns of 29% and 22% respectively in one year.
What market experts have to say on SBI shares…
Brokerages and experts predict further bullishness for this PSU Bank stock. Foreign brokerage Jefferies in its latest report said valuations of Indian banks look very attractive, with SBI also among its top bank stock picks. Rohan Mehta, founder and portfolio manager, Turtle Wealth said, “SBI is one of the best options for us and one of the top 3 holdings for our fund.
Pressure on the banking sector
The global banking system is facing challenges mainly due to liquidity rather than asset quality, said Motilal Oswal. The brokerage said it does not see any significant challenges facing the Indian banking system. Amar Dev Singh, principal consultant, Angel One Limited, said that ACBI has recorded a sharp improvement during the quarter. Overall, the banking sector has come under pressure due to growing investor fears about a global recession and negative news related to the global banking system.
New target price of SBI share
Domestic brokerages have given ‘buy’ rating to SBI stock and the brokerage house said that the shares of country’s largest bank SBI can be bought at Rs 725. That means if one buys SBI shares at the current level of Rs 505.60 per share, one can get more than 40% return.
(Note: Consult a financial advisor before investing in the stock market)