SBI is an Indian public sector bank with the largest share i.e. 25% of the loans and deposits market and 23% market share by assets. It is one of the biggest employers in the market with over 2,50,000 employees. Its headquarters is based in Mumbai, Maharashtra.
SBI also has businesses in foreign countries like Australia, Bangladesh, Bahrain, Canada, China, Mauritius, and many more. The bank is working in 36 different countries in total.
SBI has always invested in different sectors of the Indian economy to boost the economy of India. It does that because it is a government bank and maintaining the economy is one of the responsibilities of the government. It is also act like a bank for banks, many private banks have accounts in this bank and SBI provides many services to them.
SBI Shares dropped recently after Hindenburg’s report on Adani stocks. And since then, investors are now worried on what they should do with their shares. In this post, we are going to discuss about SBI Share price target 2023 to 2030.
As of September 7th 2023, SBI is trading at Rs. 574.5 with a marketcap of 5.12LCr INR.
SBI Q1 FY2024 Results: Key Points
SBIN declared its Q1 FY2024 results on August 4th, 2023 and here is the summary.
- Net Profit Soars: SBI reported a staggering 178% year-on-year increase in net profit, reaching ₹16,884 crore for Q1 FY2024, exceeding market expectations.
- Improvement in Asset Quality: The bank’s gross NPA reduced to 2.76% compared to the previous quarter, indicating continued positive momentum in asset quality, with provisions also seeing a significant decline.
- Growth in Loans and Advances: With credit growth recorded at 13.90% YoY and domestic advances growing at 15.08%, SBI showed robust growth across sectors including SME, retail, auto, and corporate loans.
- Net Interest Income and Margin: SBI’s net interest income rose by 24.7% YoY to ₹38,905 crore, and the domestic net interest margin increased by 24 basis points YoY to 3.47%, highlighting a strong financial position.
I am bullish on SBI for several compelling reasons and I want you to know why you should pay attention too.
Firstly, the bank recently announced its highest ever quarterly profit of 16,884 crores in Q1FY24, marking a remarkable 178.25% YoY increase, indicative of its robust financial health and operational efficiency. Additionally, the substantial reduction in its gross NPA ratio to 2.76%, the lowest in over a decade, underscores the bank’s enhanced asset quality and prudent risk management. This is further supported by the impressive 15.08% YoY growth in domestic advances, signaling robust credit demand across all segments.
With SBI’s optimistic projections of 14-15% growth in credit and deposits for FY24, and its strong capitalization evident from a 14.56% capital adequacy ratio and 10.19% CET one ratio, it is evident that the bank is poised for sustainable growth in the future.
SBI in Recent News
- August 4, 2023: SBI Q1 FY2024 Results: Strong Growth Across All Fronts, Profits Zoom to ₹16,884 Crore.
- Axis Securities Recommends Buying State Bank of India with a Target Price of Rs 715
- SBI directly competes with Google Pay, Paytm, and PhonePe by enabling non-SBI account holders to make payments through the YONO App’s UPI.
- According to Nirmal Bang, State Bank of India is expected to report a Year-over-Year (YoY) increase of 122.8% in net profit for Q1, reaching Rs. 13,520.8 crore.
You can buy shares of SBIN from various online brokers. Some of them are mentioned below:
| Zerodha | Click here |
| Upstox | Click here |
| Groww | Click here |
| AngelOne | Click here |
| ICICIDirect | Click here |
SBI Price history: 1999 to 2022
SBI price history: 1999 to 2008
In 1999, the price of one share of SBI was 15 rupees. And did not cross 30 till 2003. In 2003 in
the second quarter, it skyrocketed and went to Rs 64 per share. From 2004 to 2008 we see a bull market till 1st Jan 2008 from Rs 64 to Rs 244 per share. In 2008 we see a crash in the market because of the great recession.
SBI Price history: 2009 to 2017
We can see that in 2009 it became a little stable and from 2010 to 2017 the chart goes in cycles.
We can see that there was no resistance broken and the price of the share remained between Rs 90 and Rs 350.
SBI’s last 5 Year Price history
| SBI Share Price target 2023 | Maximum Price (in INR) |
Minimum Price (in INR) |
| September 2023 | 623.11778 | 536.2444462 |
| October 2023 | 648.6836 | 529.7566154 |
| November 2023 | 657.55196 | 532.7322769 |
| December 2023 | 678.4581952 | 552.6601502 |
In 2023, SBI share price is expected to see the bull going past 678 INR by the end of 2023.
In January end and February, we saw a drop and it can go up until June. This could be because of the aftereffect of Hindenburg’s report on Adani Enterprises and that SBI had given loan to Adani. After all this settles, we might see a bull market from July till December.
For the month of September, 2023, SBI share price is expected to trade in the range of Rs. 623.11778 and Rs. 536.24
Year to date, SBI is down by -6.16% (till September 7th, 2023), but is expected to escalate in the last 2 quarters.
Maximum SBI price target for September is Rs. 678.45
| When | Maximum Price (in INR) |
Minimum Price (in INR) |
| January 2024 | 687.1138897 | 587.0106844 |
| February 2024 | 703.498752 | 536.2489604 |
| March 2024 | 737.998337 | 587.803526 |
| April 2024 | 716.362124 | 525.6631725 |
| May 2024 | 743.635103 | 519.7193104 |
| June 2024 | 786.362124 | 535.6631725 |
| July 2024 | 819.634549 | 631.49965 |
| August 2024 | 835.598004 | 724.28413 |
| September 2024 | 885.877904 | 796.829157 |
| October 2024 | 923.385777 | 25.681361 |
| November 2024 | 960.2290667 | 15.56082 |
| December 2024 | 1032.274879 | 778.672984 |
SBI bank share price is expected to experience significant growth in 2024.
The share price is projected to increase from a minimum of Rs. 687.11 in January 2024 to a maximum of Rs. 1032.27 in December 2024. This represents a substantial increase of over 50% in just one year. In the first half of the year, the prices are expected to be slightly more stable, with fluctuations ranging from Rs. 703 in February 2024 to Rs. 716 in April.
However, in the second half of the year, the prices are expected to experience significant growth, reaching a maximum of Rs. 1032 in December 2024. Investors may expect a bullish trend for SBI bank shares in 2024, with the potential for substantial returns.
| When | Maximum Price (in INR) |
Minimum Price (in INR) |
| January 2025 | 1057.085545 | 870.077768 |
| February 2025 | 1054.231267 | 776.573879 |
| March 2025 | 1051.942831 | 865.402573 |
| April 2025 | 1132.091813 | 965.538012 |
| May 2025 | 1191.404145 | 1010.367404 |
| June 2025 | 1190.544559 | 1021.404145 |
| July 2025 | 1248.232914 | 1026.575376 |
| August 2025 | 1296.575376 | 1024.159433 |
| September 2025 | 1291.404145 | 1010.367404 |
| October 2025 | 1326.575376 | 1124.159433 |
| November 2025 | 1386.232914 | 1096.575376 |
| December 2025 | 1406.580863 | 1024.164421 |
SBI bank share price is expected to continue its upward trajectory in 2025.
The share price is projected to fluctuate between a minimum of Rs. 776.57 in February 2025 and a maximum of Rs. 1406 in December 2025. Overall, the prices in 2025 are expected to be increase in 2024.
I personally have invested and will be holding SBI shares till 2025.
| Year WISE | Maximum Price | Minimum Price |
| 2026 | 1557.720575 | 1246.718512 |
| 2027 | 2673.161726 | 3740.155536 |
| 2028 | 3222.870156 | 2579.417611 |
| 2029 | 3867.444187 | 3095.301133 |
| 2030 | 5859.76392 | 4689.850201 |
Currently, SBIN has corrected by more than 20% from its all-time high but it is expected to grow to 1000INR by the end of the February 2024. But the growth will not stop there and will continue to grow by more than 2800 points by the end of 2024.
2025 will remain stable we will not see a lot of fluctuation and we will see a drop in 2026.
This will be followed by a bullish graph in 2027 and can hit up to 4600INR by the end of the year.
In 2028 we can see a drop and which will heal till itself till 2029 and in 2030 we might see another bull which can the stock price to 5800 points.
SBI Financial Condition: Last 5 years (2019 to 2023)
| Year | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|
| Revenue (in Crore INR) |
253,322 | 269,852 | 278,115 | 289,973 | 350,845 |
| Interest
(in Crore INR) |
155,867 | 161,124 | 156,010 | 156,194 | 189,981 |
| Expenses
(in Crore INR) |
166,104 | 172,909 | 192,821 | 197,349 | 204,303 |
| Financing Profit
(in Crore INR) |
-68,649 | -64,181 | -70,715 | -63,570 | -43,439 |
| Financing Margin % | -27% | -24% | -25% | -22% | -12% |
| Other Income (in Crore INR) |
77,365 | 98,159 | 107,222 | 117,000 | 122,534 |
| Depreciation (in Crore INR) |
3,496 | 3,662 | 3,711 | 3,691 | 3,696 |
| Profit before tax (in Crore INR) |
5,220 | 30,317 | 32,796 | 49,739 | 75,399 |
| Tax % | 41% | 40% | 26% | 27% | 25% |
| Net Profit (in Crore INR) |
3,351 | 21,140 | 23,888 | 37,183 | 57,750 |
| EPS in Rs (in Crore INR) |
2.58 | 22.15 | 25.11 | 39.64 | 62.35 |
| Dividend Payout % | 0% | 0% | 16% | 18% | 18% |
The performance of the company overall is great and it has seen a lot of profit. the current objectives of the company will continue to make it grow and prosper.
Also read:
HDFC Securities recommends purchasing shares of State Bank of India with a target price set at Rs 750. (7th August, 2023)
Axis Securities Recommends ‘Buy’ for State Bank of India with a Target Price of Rs 715 (August 2nd, 2023)
ICICI Direct suggests to buy the shares of SBI with a price target of Rs.750 (Date: 10th May, 2023)
LKP Research has a positive outlook on State Bank of India and has given it a “buy” rating in its latest research report dated February 06, 2023. The target price for the stock has been set at Rs 663.
Sharekhan, in its research report dated February 03, 2023, has given a buy rating to State Bank of India and set a target price of Rs 710, indicating a bullish outlook on the stock.
Emkay has noted that despite a 13% decline from its all-time high, the SBI stock still holds potential and can potentially see a gain of up to Rs 171 per share.
Motilal Oswal suggested to buy the shares of SBI with a price target of Rs.700 .
SBI Price Target FAQs
The share price of SBI can go up to 1557 rupees. Compared to today’s price, it is more than 2.5X growth.
Is it a good time to invest in SBI?
Yes, as it will continue to grow this year. If you decide to invest in it, do not invest all your money at a time please invest in bits and pieces. According to indicators such as Stochastic RSI, trend line etc, the stock is predicted to go down for a bit and shoot up again as more than the position it is currently in, so it is suggested to buy the shares now in order to enjoy the gains in the future.
Is SBI undervalued or overvalued?
According to my analysis, SBI with PE of 7.8 is undervalued.
Will SBI stock go up tomorrow?
Looking at the current trend, it will continue to grow tomorrow
According to our SBI price prediction, SBI shares could reach Rs.5859.7639 by the end of 2030.
Can SBI reach 1000INR?
SBI shares can reach 1000INR by February 2024.
SBI share price declined by 3% today, after the results were declared. Even though the largest public sector bank posted a profitable quarter, the share price declined, and one of the reason could be a slight rise in the NPA.
- SBI Compounded Sales Growth 3 Years: Over the last three years, State Bank of India has achieved a compounded sales growth rate of 9%, reflecting a consistent expansion in its market reach and customer base.
- SBI Compounded Profit Growth 3 Years: With an impressive compounded profit growth of 50% over the past three years, SBI has demonstrated strong financial performance and effective cost management.
- SBI Stock Price CAGR 3 Years: The stock price of SBI has seen a compound annual growth rate (CAGR) of 44% over the last three years, indicating robust investor confidence and market valuation of the bank.
- SBI Return on Equity 3 Years: SBI’s return on equity (ROE) stands at 13% over a three-year period, showcasing the bank’s efficiency in generating profits from shareholders’ equity.
- Book Value: The book value of State Bank of India is Rs. 402, which represents the intrinsic value of the bank’s assets and provides insights into the underlying equity value of the company.
- 52 Weeks High/Low: All time high of SBI shares is Rs. 630 whereas 52 week low is Rs. 499
First let us understand does what lies ahead of SBI?
SBI is poised for notable future growth, underpinned by a 17% improvement in cross sales and potential expansion through an open architecture for cross-selling. The bank’s strategic interest in sectors such as NBFCs, renewables, and infrastructure paves the way for diverse revenue streams.
Leveraging relationships with existing branches and digital channels ensures deeper customer engagement. Efforts to optimize its cost-to-income ratio through a 1% rise in defined contribution employees and enhanced productivity further indicate its growth trajectory. With anticipated growths of 12-13% in deposits and 14-15% in advances, SBI’s future outlook remains robust.
Looking into the past, we can see SBI has shown a lot of growth in the past 5 years and its share has shown good performance in early 2023. We consider this a good investment in 2023. Over the years, we see a lot of growth potential in this largest public sector Indian bank.
With a PE ratio of 7.8, a PB ratio of 1.47 and EPS of 20.77, the decision making is influenced heavily as the PE ratio is low but PB ratio is high.
If you decide to invest in the shares of SBI, please keep in mind the risks of the market, and please do not put all your money in one time invest in bits and pieces.
Your money is valuable please invest wisely. Do not put all your money in one go. Market will give opportunities. Wait and then invest.
Experts and Brokerage firms are bullish on SBI. LKP Research and Sharekhan have given a buy call with target of Rs. 663 and Rs. 710 respectively.
I am bullish on SBI myself because it has been constantly posting positive earning results, and revenue, profits are all increasing at a rapid pace. I myself hold SBI shares which I plan to hold until P/E reaches in the range of 14-15.
Disclaimer: I personally hold SBI shares and would be adding more SBI shares to my portfolio around Rs.550 levels. We are not a SEBI registered advisor and this article is just for educational purpose and by no means an investment advise.
Last updated: 7th September, 2023
What did we learn?
- 1
- 2 SBI Q1 FY2024 Results: Key Points
- 3 Why you should Pay attention to SBI Shares in September 2023?
- 4 SBI in Recent News
- 5 How to buy SBI Share in India?
- 6 SBI Price history: 1999 to 2022
- 7
- 8
- 9
- 10 SBI Share Price Prediction 2023
- 11 SBI Share Price Target 2024
- 12 SBI Share Price Target 2025
- 13 SBI Share Price Prediction 2026 to 2030
- 14 SBI Financial Condition: Last 5 years (2019 to 2023)
- 15 State Bank of India Share Price Target by Experts
- 16 SBI Price Target FAQs
- 16.1 What will be the share price of SBI in 2025?
- 16.2 Is it a good time to invest in SBI?
- 16.3 Is SBI undervalued or overvalued?
- 16.4 Will SBI stock go up tomorrow?
- 16.5 What is the SBI share price prediction for 2030?
- 16.6 Can SBI reach 1000INR?
- 16.7 Why did SBI share price fall after Q1 SBIN FY2024 results were declared?
- 17 Things to Know before buying and selling SBI shares in September 2023
- 18 Final Conclusion: Should You Invest in SBI Shares in 2023?
