Jefferies keeps INR 1,320 target for State Bank of India stock

Published on 10/13/2026 at 14:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-quarter profit was INR 241.13 billion. State Bank of India stock was INR 957.00 on October 13, 2026, up 1.70 percent versus NSE close INR 941.00.

Jefferies retained its Buy rating and INR 1,320 target for State Bank of India on September 23-24, 2026.
Net profit reached INR 241.13 billion in the first quarter of fiscal 2027, according to a report dated August 7, 2026.
State Bank of India stock was INR 957.00 on October 13, 2026 at 3:28 p.m. IST, plus 1.70 percent versus the NSE close of October 12, 2026.
The bank had a price-to-earnings ratio of 10.25 and market capitalization of INR 8.8 trillion on October 13, 2026.

SBI, INE062A01020, Illustration mit AI erstellt.

Jefferies retained a Buy rating and an INR 1,320 target for State Bank of India in research dated September 23-24, 2026, according to Financial Express. The target is 37.93 percent above the NSE price of INR 957.00. State Bank of India was last at INR 957.00 on October 13, 2026 at 3:28 p.m. IST, plus 1.70 percent versus the NSE close of October 12, 2026 at INR 941.00.

First-quarter profit reaches INR 241.13 billion

Net profit reached INR 241.13 billion in the first quarter of fiscal 2027. Alfa Finder reported the figure on August 7, 2026, together with 13.70 percent year-over-year growth.

The result gives the valuation discussion a concrete operating base. Jefferies expects return on equity of 15.00 percent in fiscal 2027, fiscal 2028 and fiscal 2029, while its INR 1,320 target reflects a material gap to the October 13 market price.

Stock remains 22.49 percent below its high

The NSE quote of INR 957.00 stood 9.74 percent above the 52-week low of INR 872.10 and 22.49 percent below the 52-week high of INR 1,234.70 on October 13, 2026. Trading volume was 7,116,742 shares against an average volume of 9,295,395 shares.

State Bank of India has a broad retail and corporate banking business, alongside treasury and other banking operations. The price position leaves the stock materially below its annual high even as the current quote remains above the yearly low.

Valuation trails larger private peers

Market capitalization stood at INR 8.8 trillion and the price-to-earnings ratio at 10.25 on October 13, 2026. The bank is listed on the NSE under ticker SBIN and belongs to the Nifty 50.

Comparison with peers

State Bank of India: plus 1.70 percent, price-to-earnings ratio 10.25, market capitalization INR 8.8 trillion

HDFC Bank (NSE, INR): plus 1.29 percent, price-to-earnings ratio 13.95, market capitalization INR 11.0 trillion

ICICI Bank (NSE, INR): plus 1.51 percent, price-to-earnings ratio 17.58, market capitalization INR 9.8 trillion

Price holds above the yearly low

State Bank of India was last at INR 957.00 on the NSE on October 13, 2026 at 3:28 p.m. IST, plus 1.70 percent versus the NSE close of October 12, 2026 at INR 941.00. The 52-week range was INR 872.10 to INR 1,234.70.