Investec keeps INR 1,390 target for State Bank of India stock

Published on 10/20/2026 at 11:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q1 FY27 net profit rose 10.23 percent to INR 211.21 billion. For State Bank of India stock, FY27 credit growth guidance is 14-15 percent.

Loan growth and valuation context

Investec kept an INR 1,390 target for SBI on October 6, 2026.
Q1 FY27 net profit reached INR 211.21 billion, up 10.23 percent year over year.
State Bank of India had a market capitalization of INR 9.0 trillion on October 19, 2026.

SBI, INE062A01020, Illustration mit AI erstellt.

State Bank of India (INE062A01020) reported Q1 FY27 net profit of INR 211.21 billion, up 10.23 percent year over year. On October 6, 2026, Investec kept a Buy rating and an INR 1,390 target, giving the bank's earnings outlook a clear valuation anchor.

Investec weighs growth against margins

According to Exencial Research Partners, Investec's October 6 preview said State Bank of India could benefit from strong underlying loan growth while FCNR(B) deposits pressure margins. The note placed the target at INR 1,390 and the bank at 7.4 times estimated fiscal 2027 core earnings.

The operating base is substantial. ANI reported on August 7, 2026, that net interest income rose 14.88 percent year over year to INR 469.92 billion in Q1 FY27, while domestic net interest margin stood at 3.00 percent. Gross advances increased 18.63 percent to INR 50.47 trillion by June 2026.

What does 14-15 percent growth mean?

DSIJ said on August 9, 2026, that management raised fiscal 2027 credit-growth guidance to 14-15 percent from 13-15 percent. The same report showed Q1 FY27 advances growth of 19.00 percent year over year and deposits growth of 9.70 percent, making loan momentum the main support for the target.

Three dated signals for SBI

On August 7, 2026, SBI disclosed Q1 FY27 net profit of INR 211.21 billion; on October 6, 2026, Investec maintained its INR 1,390 target; and on October 9, 2026, a filing summary cited SBI's INR 9.0 trillion market capitalization.

Reporting and valuation markers

Bsenexus identifies the June 30, 2026 quarter as Q1 FY27 and lists its results declaration on August 7, 2026. Its October 9, 2026 filing summary also lists the NSE ticker SBIN and a market capitalization of INR 8,987,997.62 million.

Stock valuation remains the market check

State Bank of India last stood at INR 973.70 on the NSE on October 19, 2026. The same dated market view showed a 52-week range of INR 900.95 to INR 1,234.70, placing the quote below the yearly high while leaving the bank's earnings and margin delivery as the next valuation tests.