The global investment bank raised earnings for SBI by 3-5 per cent. It has factored in better credit growth as it is well-placed to gain market share. Net interest margins (NIMs) may be range-bound as the share of corporate credit rises. Healthy credit growth and low credit costs will support earnings growth, said the note.
Market rout: 7 of top-10 valued firms see Rs 1.25 lakh crore erosion
The stock continued to remain the most valued listed company in the country despite the decline.