Mumbai: State Bank of India shares fell 2.2% on Monday, underperforming a largely flat market, even after the country’s largest lender’s June-quarter earnings came in above analyst expectations.
The stock closed at ₹1,072 even as most brokerages retained their positive stance on the lender following the results. Several firms, including Citi, HSBC, CLSA and JP Morgan, raised their target prices, while maintaining bullish recommendations.
Agencies
consensus price implies 17% upside, but stock falls
The consensus 12-month target price stands at ₹1,255.14, implying an upside of about 17.1% from Monday’s closing price of ₹1,072.
The yen was pinned near an almost four-decade low on Wednesday as rising oil prices and U.S. Treasury yields hoisted the dollar and left traders on edge about possible Japanese intervention. On Tuesday, in New York trade, the yen hit 163.24 per dollar, its weakest since late 1986, and it sat at 163.21 early in…
Many people take a career break for a year or two, or even more for higher studies, family responsibilities, layoffs or health reasons. During such a break, one of the biggest concerns is what happens to the money accumulated in your provident fund (PF) account after leaving a job. The good news is that your…
The Income Tax Department has enabled a new Foreign Assets Information (FAI) feature on the e-Filing portal, allowing eligible taxpayers to view information about their overseas financial accounts and assets received by India under international information-sharing arrangements. The move is aimed at improving voluntary compliance and helping taxpayers verify foreign asset details before filing returns…
Newgen Software Technologies shares surged 14.63% to Rs 541.65 during Friday’s trading session, riding a broad-based rally in the information technology sector. The stock gained alongside leading IT names as the Nifty IT index advanced more than 2%, supported by upbeat investor sentiment following Tata Consultancy Services‘ (TCS) better-than-expected first-quarter earnings. Among largecap IT stocks,…
Shares of Hitachi Energy India jumped over 7% to Rs 35,110.40 on the BSE on Monday, after reporting a 123.5% year-on-year (YoY) jump in its profit after tax to Rs 294.2 crore for the June quarter of FY26. Following the company’s Q1 results, released on Friday in a regulatory filing on the BSE, domestic brokerage…
Dearness Allowance (DA) is a percentage of basic salary aimed at offsetting the impact of inflation for government employees and pensioners. Reviewed twice a year, new announcements are usually made annually in March and October, with rollouts in July the same year and January in the next year. DA is a component of the basic…
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