• Thu. Feb 22nd, 2024
SBI share price: Experts give ‘buy’ tag for bank fund raising  Should you buy?

SBI share price: Shares of State Bank of India (SBI) edged lower in early morning deals on Tuesday. However, stock market experts are very bullish on the stock in the short and medium term as India’s largest commercial bank is going to consider raising funds through private placement. Experts believe the net income will help SBI to improve margins, which are already expected to improve due to an expected pick-up in credit growth. They advised positional investors to buy SBI shares as the stock may rise 660 levels each in the medium term.

SBI share price: Shares of State Bank of India (SBI) edged lower in early morning deals on Tuesday. However, stock market experts are very bullish on the stock in the short and medium term as India’s largest commercial bank is going to consider raising funds through private placement. Experts believe the net income will help SBI to improve margins, which are already expected to improve due to an expected pick-up in credit growth. They advised positional investors to buy SBI shares as the stock may rise 660 levels each in the medium term.

SBI Share Price Outlook

Chandan Taparia, Derivatives & Technical Analyst at Motilal Oswal, speaking on why to add SBI shares to the stock portfolio said, “In the backdrop of the interest rate freeze announced by the Reserve Bank of India in the April monetary policy meeting and expected. The credit growth of SBI and other banks is expected to continue.Furthermore, the SBI board is going to consider raising funds through private placement in its upcoming board meeting, which is going to create more liquidity in the largest Indian commerce. Hence, SBI share price is expected to rise in the short to medium term 560 levels are expected to remain a sacred support for the banking stock.

SBI Share Price Outlook

Chandan Taparia, Derivatives & Technical Analyst at Motilal Oswal, speaking on why to add SBI shares to the stock portfolio said, “In the backdrop of the interest rate freeze announced by the Reserve Bank of India in the April monetary policy meeting and expected. The credit growth of SBI and other banks is expected to continue.Furthermore, the SBI board is going to consider raising funds through private placement in its upcoming board meeting, which is going to create more liquidity in the largest Indian commerce. Hence, SBI share price is expected to rise in the short to medium term 560 levels are expected to remain a sacred support for the banking stock.

On suggesting SBI share price chart pattern, Anuj Gupta, Vice President, Research, IIFL Securities said, “SBI share price chart pattern looks bullish. Holders of this stock in portfolio are advised to maintain stop loss. 575 each level for immediate purpose From 595 onwards 600 per share of Rs. Once breached, SBI shares may turn higher bullish 600 per level on closing basis.

On suggesting SBI share price chart pattern, Anuj Gupta, Vice President, Research, IIFL Securities said, “SBI share price chart pattern looks bullish. Holders of this stock in portfolio are advised to maintain stop loss. 575 each level for immediate purpose From 595 onwards 600 per share of Rs. Once breached, SBI shares may turn higher bullish 600 per level on closing basis.

Motilal Oswal’s Chandan Taparia, giving a ‘buy’ tag to SBI shares, said, “New investors can buy SBI shares at the current market price and accumulate more if it declines.” 570 each level maintains stop loss 560 each level. In short term, SBI stock price may rise 610 per share, but the SBI share price may rise in the medium or next six months 660 levels.”

Motilal Oswal’s Chandan Taparia, giving a ‘buy’ tag to SBI shares, said, “New investors can buy SBI shares at the current market price and accumulate more if it declines.” 570 each level maintains stop loss 560 each level. In short term, SBI stock price may rise 610 per share, but the SBI share price may rise in the medium or next six months 660 levels.”

In a recent exchange communication, SBI said about the fund raising plan, “We hereby notify a meeting of the Central Board pursuant to Regulation 29(1)(d) and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. INR and/or debt instruments State Bank of India is scheduled to hold a meeting on Friday June 9, 2023 to seek approval to raise funds in FY24 through private placement mode by issuing (including capital instruments). any foreign currency.”

In a recent exchange communication, SBI said about the fund raising plan, “We hereby notify a meeting of the Central Board pursuant to Regulation 29(1)(d) and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. INR and/or debt instruments State Bank of India is scheduled to hold a meeting on Friday June 9, 2023 to seek approval to raise funds in FY24 through private placement mode by issuing (including capital instruments). any foreign currency.”

Disclaimer: The views and recommendations provided in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making investment decisions.

Disclaimer: The views and recommendations provided in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making investment decisions.

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