Shares of rose 3.45 per cent to ₹1,066 on the on Wednesday afternoon, making it one of the trending counters on the exchange, a day after the country’s largest public sector lender reported its quarterly results.
The stock opened at ₹1,074, touched a high of ₹1,077.80, and was trading with a sell-heavy order book — 60.34 per cent sell versus 39.66 per cent buy — with over 1.88 crore shares changing hands, generating a traded value of ₹1,948.84 crore by early afternoon.
The stock’s move comes amid a broader analyst note from HSBC, which flagged that trading losses could weigh on PSU bank earnings this quarter, even as it rated SBI a Buy and listed it among favoured large banks alongside ICICI Bank and Axis Bank. HSBC noted that Q4 system loan growth of 5.5 per cent and deposit growth of 3.6 per cent signal robust momentum, but expressed a preference for large private banks over PSU lenders.
Adding a specific headwind for SBI, a Bloomberg report indicated the bank was among the most impacted by an RBI directive, having reportedly held short rupee positions of around $5 billion.
Naveen Kulkarni, CIO at Axis Securities PMS, said Q4 appears to be a strong quarter overall, with credit growth picking up meaningfully, though deposit competition remains intense. He flagged potential risks to MSMEs, vehicle finance, and corporate credit in oil-sensitive sectors from the ongoing West Asia conflict, and said commentary on NIM movement over H1FY27 would be critical. He named SBI among his preferred larger banks.
Dr. Poonam Tandon, CIO at IndiaFirst Life Insurance, said the MPC’s decision to hold rates was in line with expectations and that policy remains supportive of growth, equities, and bond markets.
SBI’s 52-week high stands at ₹1,234.70, hit in February, while the stock’s one-year return is 38.75 per cent, significantly outpacing the Nifty 50’s 6.35 per cent over the same period. Its current P/E stands at 11.20.