Kotak Institutional Equities analysts have recommended buying shares of State Bank of India (SBI) and increased the target price to Rs 850 from Rs 760. This adjustment suggests a potential increase of 14 percent from the last closing price. The optimistic view is based on the belief that SBI has successfully navigated various concerns with minimal impact on its earnings.
SBI’s stock has seen a notable rise of over 15 percent this year, outperforming the benchmark Sensex, which has shown a relatively flat or positive movement. The SBI shares reached a 52-week high of Rs 777 on February 21.