While some analysts cut their earnings expectations from SBI for FY23 following the disappointing quarter, others retained their bullish ratings citing cheaper valuations. Morgan Stanley said SBI’s valuations at one time FY24 book are attractive. CLSA increased its price target on the stock to factor in the higher price targets of its subsidiaries.
From a technical standpoint, the previous week has created a gap. In the process, the index has shifted its support zones higher in the range