State Bank of India shares gained more than a percent intraday on Thursday after Credit Suisse lifted earnings estimates on expected stronger net interest margin.
At 12:15 hours IST, the stock was quoting at Rs 310.30, up Rs 2.25, or 0.73 percent on the BSE.
While maintaining outperform call with a price target at Rs 350, Credit Suisse said growth remained healthy and SBI's margin will expand further going ahead.
Current CET-1 at 9.6 percent is adequate to support a 14 percent loan growth, it added.
According to the investment firm, SBI may look to raise Rs 10,000 crore of capital at an opportune time for higher growth. Credit Suisse revised its FY19-21 EPS estimates upwards by 4-5 percent on stronger NIMs & deferred capital raise.
Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol advises users to check with certified experts before taking any investment decisions. First Published on Mar 28, 2019 01:19 pm
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