Most brokerages remain bullish on SBI after Q1 results expect HSBC, which has downgraded its to ‘hold’ from ‘buy’ with a target price of Rs 630 a share
SBI has considerably outperformed the Nifty Bank index over the last 5 years. SBI has given a return of 145 percent over the last 5 years. Whereas the Nifty Bank index has given a return of 69.67 percent over the same duration.
This is also in line with the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) stance in the last three meetings. The RBI had hiked the repo rate by 140 basis points (bps).
Account-holders of various private banks like Axis and IDBI bank, along with public sector banks like Canara Bank, Bank of Baroda, Syndicate Bank, and SBI, one of India’s largest lenders will be impacted
Moody's has downgraded the long-term local and foreign currency deposit ratings of HDFC Bank and SBI.