State Bank of India (SBI) shares jumped more than 2%, trading at ₹780.90, after Jefferies reaffirmed its “Buy” rating with a target price of ₹1,030.
The brokerage highlighted SBI’s strong focus on deposit growth and room for improvement in its loan-to-deposit ratio (LDR). Asset quality remains robust, even in unsecured loans, bolstering investor confidence.
Jefferies expects gradual rate cuts to support margins, aided by a higher share of MCLR-linked loans. With no plans for capital raising or subsidiary stake monetization, SBI continues to be a top banking sector pick.
As of 9:32 am, State Bank of India shares were trading 2.02% higher at Rs 796.55 on the NSE.
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