Home / Markets / News / SBI stock may gain 22% to hit Rs 1,000-mark, rally may be gradual: Analysts

SBI stock may gain 22% to hit Rs 1,000-mark, rally may be gradual: Analysts

SBI stock price: On the bourses, SBI stock price hit a record high of Rs 839.6 apiece on the BSE, soon after the result announcement on May 9

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4 min read Last Updated : May 10 2024 | 10:17 PM IST

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SBI Q4 results analysis: State Bank of India's (SBI's) strong earnings beat in the March quarter (Q4) of financial year 2023-24 (Fy24) has boosted confidence among analysts that the stock may rally up to Rs 1,000-mark over the next 12 months -- about 22 per cent higher from current levels.

The rally, however, may not be steep given its rich valuations, they added.

"We value SBI stock at 1.5X (adjusted) book ,and 10X FY26 EPS for return on equity (RoEs) of around 15 per cent. Valuations are now getting closer to frontline private banks (IndusInd Bank trading at

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