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

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

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

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

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

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

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

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

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

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

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

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