Shares of SBI can go up to Rs 700, Jefferies increased the target of share

Shares of State Bank of India (SBI) can see a good rise. 

Foreign brokerage house Jefferies has raised the target price of State Bank of India shares to Rs 700. 

Jefferies has also increased SBI earnings by 3-5 per cent.

"Banks need to raise capital, but not the main problem,

the management may monetize the stake in its subsidiaries," the foreign brokerage house said in a note. 

SBI shares are trading at a level of Rs 568.35 on the Bombay Stock Exchange (BSE) on 21 September 2022.

Broker's house has given the target of RS 700 for SBI shares.

Earlier, Jefferies had given a target of Rs 630 for SBI shares. 

Shares of State Bank of India have given returns of about 31 per cent to investors in the last one year. 

At the same time, so far this year, the shares of the bank have given a return of about 22 percent to the people.