State Bank of India (SBI), the country's largest lender scaled fresh record levels on Thursday with the stock crossing the Rs 1,200 mark.
Shares of SBI was rose over 1% on Thursday with the stock touching the intraday high of Rs 1203.70. The shares of the public sector bank are on an upward trend in light of its stellar third-quarter results.
SBI shares were in focus following a significant block deal where 2.5 million shares changed hands. The public sector bank became the fourth most valuable listed company by market capitalisation on Wednesday, surpassing Tata Consultancy Services after the lender's shares rose over 3% following strong December quarter results.
At the end of the trading session on Wednesday, SBI's market capitalisation stood at Rs 10.91 lakh crore, higher than that of TCS, whose market capitalisation has since fallen below Rs 10 lakh crore due to the recent drawdown.
Last week, SBI reported an all-time high profit of Rs 21,028 crore in Q3FY26 on a standalone basis. The bank's core net interest income on a standalone basis grew 9.04% to Rs 45,190 crore from Rs 41,446 crore in the year-ago period on the back of 15.14% loan growth, as per regulatory filing.
SBI Share Price Today
SBI Share Price Today
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The scrip rose as much as 1.76% to Rs 1200 apiece. This compares to a 0.49% decline in the NSE Nifty 50 Index. The total traded volume is 11.59 times and the relative strength index was at 49.78
Out of 49 analysts tracking the company, 42 maintain a 'buy' rating, seven recommend a 'hold,' according to Bloomberg data. The average 12-month consensus price target is Rs 1210.4.
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