After a long wait, the stock market returned to growth on Friday. This growth in the market activated bullish sentiments in many stocks. In this recovering market, eyes are on large-cap stocks.

The share price of India's largest PSU bank, State Bank of India, is in the news. Shares of State Bank of India closed at Rs 814.55 on Friday. During this period, the share price increased by 4.33%. This rise seems to be bringing some life to the SBI stock. This stock has come above the support level of Rs 764 and it may continue to rise in the future as well.

Brokerage firm Jefferies is doing buy coverage on the shares of State Bank of India (SBI). The brokerage firm said that SBI is one of their top choices in this sector. Shares of State Bank of India (SBI) closed at Rs 814.55 on the NSE on Friday, up 4.33 percent. More than 206.65 lakh equity shares were transacted on this day.

This government-owned bank has a 52-week high of Rs 912 (on June 3, 2024) and a 52-week low of Rs 555.15 (on November 2023). According to NSE, the total market cap of NIFTY50 stocks is Rs 7,26,954.92 crore.

SBI Share Target Price

Jefferies has maintained a buy rating with a target price of Rs 1030. The brokerage firm said that the government-owned bank needs to focus on improving deposit growth. There is scope for an increase in LDR. The brokerage
firm said that the asset class is also intact in unsecured loans. Rate cuts may be gradual. The high share of MCLR will help margins. The bank is not planning to raise capital or monetize/list stakes in subsidiaries.

28 reports on Trendline have recommended buying SBI shares, with an average target of Rs 995.

Shares of Sthe tate Bank of India have given positive returns of 1.49 percent and 3.24 percent in the last 1 week and 1 month respectively. Shares of the public sector bank rose 27.12 percent on a year-to-date basis.

In the last 1 year, 2 years, 3 years, 5 years , and 10 years, the bank's shares have increased by 45.96 percent, 36.21 percent, 67.76 percent, 147.93 percent , and 167.51 percent respectively. In May this year, SBI had announced a dividend of Rs 13.70. Similarly, the bank gave a dividend of Rs 2.60 in 2017, Rs 4 in 2021, Rs 7.10 in 2022 and Rs 11.30 in 2023.