SBI Share alert: SBI Shares opens up by 2.2%; analysts estimates “Buy” rating, Check Price Target Now
SBI share price opened at Rs 759 today, up 2.26% from April 9 close, rebounding after RBI’s repo rate cut and positive investor sentiment.
State Bank of India shares rise 2.26 percent after RBI repo rate cut announcement
In a significant boost by RBI interest rate cuts, shares of State Bank of India are opened the day today at Rs 759, which is 2.26% more than the closing price of Rs 742.20 on 9th April.
After the closing prices for April 9th fell 3.23% below the day's opening price of Rs 767, investors are relieved. But according to today's opening numbers, the stock has regained some of its lost ground, especially in view of the RBI's (Reserve Bank of India) recent decision to lower repo rates.
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Remarkably, the closing price on April 8th was 1.31% higher than the opening price on April 9th, while the opening price on April 9th was 0.20% lower. With not only the repo rate cut but also other developments like updated ATM transaction regulations and an upcoming agreement to sell its Yes Bank stake, it is still unclear how the stock will perform by midday.
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The stock has been corrected by 3.3% in past one month. The 52-week high of the share is at Rs 912.00 and the 52-week low is at Rs 680.00. The market capitalization is at Rs 6.73 Lakh crore with dividend yield at 1.82%.
It is projected that SBI's share price target for 2025 will range from Rs 800 to Rs 1049. A "Buy" rating with a target price of Rs 1030 has been maintained by some analysts, such as Jefferies. Others, such as Bernstein, anticipate little growth and think the stock is fairly valued. According to INDmoney, UBS raised the price target for State Bank of India to Rs 840 and upgraded the bank to neutral.
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