State Bank of India reported its Q2 earnings. The net interest income (NII) is up about 14.6 percent at Rs 28,182 crore on year-on-year (YoY) basis. Profit is also higher than street estimates, at Rs 4,574 crore.
The gross NPA came in at 5.28 percent compared to 5.44 percent quarter-on-quarter (QoQ). The net NPA saw an improvement to 1.59 percent as compared to 1.86 percent QoQ.
Lalitabh Shrivastawa of Sharekhan said that the results are in-line with expectations, except for the slight miss on the asset quality numbers. He said his firm has a buy rating on the stock.
Darpin Shah of HDFC Securities too has a buy rating on the stock, and said any further action would depend on the management commentary.
Kunal Shah of ICICI Securities said that they have buy recommendation on the stock with a target price of Rs 272.
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