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India's stock markets saw their sixth weekly loss in seven weeks amid worries about quarterly earnings, and ongoing foreign outflows. After reaching all-time highs earlier this year, the Sensex and Nifty 50 have now entered a correction phase.On September 27, 2024, the NSE Nifty hit 26,277.35, and the BSE Sensex hit its highest point ever, 85,978.25. But since October, the market has been dominated by negative patterns, which have resulted in considerable falls.However, Kotak Securities remains optimistic about SBI's medium-term return ratios and sees the bank as a top pick among public sector banks.

Kotak Securities has reaffirmed its "Buy" rating for State Bank of India (SBI) shares citing robust Q2FY25 performance. The bank reported a 30% year-on-year growth in earnings, driven by a 50% rise in operating profit.While loan growth increased by 15% annually, the bank's net interest margin (NIM) stayed steady at 3.2%. The gross non-performing loan (NPL) ratio decreased by 10 basis points to 2.1% on a quarterly basis, indicating an improvement in asset quality.With a CAR of 13.8% and a CET1 ratio of 10%, the bank maintained solid capital adequacy, and the cost-to-income ratio also improved, falling 90 basis points to 48.5%. However, CASA ratio declined to 38.41%, and the domestic credit-deposit ratio rose to 75%.

SBI Share Price TargetKotak Securities has given a target price of Rs 975. On Thursday, the shares of SBI closed at Rs 804.05. The 52 week high and low of the share is Rs 912.10 and Rs 555.25 respectively. According to the BSE analytics, the shares have given massive returns of 38.31 per cent in the last 1 year.(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money related decisions.)

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