SBI shares rise 1% as brokerages stay bullish on loan growth outlook

what happened

Shares of State Bank of India (SBI) rose about 1% on Thursday, placing the country's largest lender among the top gainers on the Nifty 50, according to TradingView. Brokerages CLSA and Goldman Sachs kept their bullish stance after management interactions with institutional investors, where the bank outlined its expectations for lending and profitability.

According to the brokerages, management expects robust credit growth, better profitability and opportunities in corporate lending, wealth management and digital banking. Management also acknowledged that keeping pace with the banking system's projected growth could be difficult given SBI's relatively high base. The stock has gained 8.8% so far in 2026, while the Nifty 50 has fallen 3.1% over the same period.

In the fiscal second quarter, SBI's net profit rose 14.3% year on year to Rs 23,038 crore, helped by an exceptional gain of Rs 7,289 crore. Net interest income beat the CNBC-TV18 poll estimate.

why it matters

The story concerns one large company, but it matters for India's banking sector because it signals that analysts see continued credit growth and earnings momentum. SBI's scheduled investor meetings in Singapore on November 17 and 18 may bring further updates on its outlook.

market impact

Indian banks: upbeat brokerage views and loan growth outlook support SBI shares

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