SBI shares edge up as brokerages raise targets after strong Q2

Core Viewpoint - State Bank of India (SBI) reported strong Q2FY26 results, leading to positive market reactions and target price upgrades from multiple brokerages [2][3]. Stock Performance - SBI shares traded at ₹960.25, up 0.28% from the previous close, with an intraday high of ₹971.40, marking a new 52-week peak [1]. - The trading volume was robust at 124.24 lakh shares, with a deliverable quantity of 68.07%, indicating strong investor interest [1]. Brokerage Reactions - Multiple brokerages raised their target prices for SBI following its Q2FY26 results, which exceeded estimates in key financial metrics [2]. - Axis Securities increased its target to ₹1,135 from ₹1,055, maintaining a buy rating, citing margin resilience and cost discipline [2]. - JM Financial raised its target to ₹1,105, highlighting solid core performance and sustained growth momentum [3]. - Anand Rathi increased its target to ₹1,104, noting better-than-industry growth and an increase in net interest margins by seven basis points to 2.97% [3]. Financial Highlights - SBI's net interest income, pre-provision operating profit, and profit after tax all beat estimates [2]. - The bank experienced strong loan growth of 3.9% quarter-on-quarter and a year-on-year fee income growth of 25.4% [3]. - The improvement in current and savings account ratios was also noted as a positive factor [3].