NIFTY 50 Market News

SBI share price target: Jefferies, Motilal, others see up to 34% upside in state lender. Buy, sell or hold? — State Bank of India has seen a remarkable 15% increase in profits year-on-year, totaling Rs 23,038 crore for the second quarter. With a loan book surpassing Rs 52 lakh crore and a 10% rise in interest income, brokerages have set optimistic Buy ratings on SBI shares, suggesting target prices between Rs 1,225 and Rs 1,350. Despite this positive outlook, management highlighted possible obstacles from macroeconomic shifts and potential treasury losses.

Loan growth, fall in provisions help SBI profits in Q2 — State Bank of India reported a 14% year-on-year rise in Q2 FY27 net profit to Rs 23,038 crore, driven by 18% loan growth, higher net interest income, lower deposit costs and reduced loan loss provisions.

Top stocks to watch today: SBI, NSE, ITC, Sun Pharma, IDBI Bank shares in focus on Tuesday, 3 Nov | Full list — Top stocks to watch today: State Bank of India (SBI), National Stock Exchange (NSE), ITC, Marico, IDBI Bank, Sun Pharmaceuticals, NALCO among shares in focus on Tuesday.

SBI Q2 Results Preview: PAT may rise up to 25% YoY; NII, margins, deposit growth in focus — State Bank of India will announce Q2FY27 results on November 3, with brokerages forecasting 11-13% NII growth and up to 25.2% profit growth. Investors will track margins, loan growth, deposits, credit costs and asset quality.

SBI Q2 Results Preview: PATmay rise up to 25% YoY; NII, margins, deposit growth in focus — State Bank of India will announce Q2FY27 results on November 3, with brokerages forecasting 11-13% NII growth and up to 25.2% profit growth. Investors will track margins, loan growth, deposits, credit costs and asset quality.

Jio Listing: Telco's Stellar Debut Knocks TCS Out Of India's Top Five, SBI Climbs — Tata Consultancy Services slipped to seventh place by market value on Wednesday morning. Jio Platforms went straight to No. 2 on its first day of trading, and a sell-off in IT stocks let State Bank of India move past the software major as well.

SBI investigates dark web leak of 3.8 lakh records — State Bank of India is currently investigating a suspected data breach involving customer information found online. The breach reportedly exposed around 375,000 records containing personally identifiable information. SBI activated protocols and engaged cybersecurity experts to assess the extent of the breach. Preliminary analysis revealed that 3,897 customer records included sensitive personal data. Despite this incident, the bank's core business operations and financial performance remain un…

Indian banks open cheque books for ₹10,000 crore-plus in M&A funding after RBI rule change — Indian banks have recently engaged in significant M&A deals after the central bank eased financing rules. State Bank of India and other lenders are now financing up to 75% of deal values. The acquisition-financing market is estimated at nearly ₹2 lakh crore due to increased demand. Various large transactions include Crystal Crop Protection's acquisition of FMC Corporation's India business and others.

Hackers Claim Access To Confidential Data Of 3.75 Lakh SBI Accounts: Report — The hackers claimed that they have accessed 3.75 lakh accounts as well as 2,722 PDF files from State Bank of India.

Landmark Group raises Rs 330 crore SBI finance for Gurugram project — Landmark Group has raised Rs 330 crore in construction finance from the State Bank of India. This funding is aimed at developing Landmark One, a Grade A+ commercial project in Gurugram. The development boasts spacious floor plates and extensive parking options. Private equity investments in Indian real estate have significantly increased, showing a 23% rise year on year.

SBI-led lenders say Vijay Mallya owes Rs 8,752 crore more — A group of lenders, spearheaded by the State Bank of India, has revealed that Vijay Mallya still owes an astonishing Rs 8,752 crore. This figure remains despite having recovered over Rs 10,270 crore, including recent payments. Mallya's claims of settling his debts with banks are in question. Court proceedings continue regarding the recovery of dues and criminal charges, with the Enforcement Directorate asserting that even recovered funds don't dismiss ongoing criminal cases.

SBI expects surplus from new UPI MDR as issuing, acquiring bank — State Bank of India will start charging a merchant discount rate on UPI payments exceeding Rs 2,000 from October 15. The bank anticipates generating surplus revenue due to its extensive card issuing and payment gateway services. Initially, MDR fees will be divided among issuing and acquiring banks, payment gateways, and UPI applications. SBI is evaluating the potential impact of transaction splitting on its systems and volumes.

Elevate Campuses raises Rs 945 crore from anchor investors — Mumbai's Elevate Campuses has completed a remarkable ₹945 crore fundraising round, attracting an array of anchor investors, including the prominent State Bank of India Mutual Fund. The initiative drew participation from 20 firms globally, with significant contributors like Norges from Norway. The full subscription of the anchor investors' segment showcases an increasing enthusiasm for the education sector among financial entities.

Fact Check: Is Govt Considering To Merge 9 PSBs With SBI, PNB And Bank Of Baroda? — As per the erraneous gazette, Indian Bank, Bank of Maharashtra, Central Bank of India would be subject to an acquisition by State Bank of India.

SBI targets Rs 2.4 lakh crore wealth management market, eyes shareholder value growth — State Bank of India is expanding its wealth management services to existing customers. The bank aims to manage significant investments for affluent clients. SBI is also developing new growth engines like acquisition financing. These initiatives are projected to enhance shareholder value over time. Analysts suggest these new ventures will take time to impact profits.