From Record ₹21,028 Cr Profits to Digital Dominance—Discover Why Top Analysts Are Betting Big on SBI’s Future Growth.
The Indian stock market in early 2026 is witnessing a massive transition, and at the heart of this movement is the banking behemoth—State Bank of India (SBI). If you are tracking the SBI share price in 2026, you are looking at a stock that has evolved from a traditional PSU into a digital-first, high-profit machine.
As of February 9, 2026, SBI has hit fresh heights following its historic Q3 (December quarter) financial disclosures. In this deep dive, we break down the numbers, the technical trends, and the revised targets from top brokerage houses.
After tracking SBI for over a decade, I’ve rarely seen a quarter as strong as this one. On February 7, 2026, SBI didn't just announce numbers; it set a new benchmark for Indian PSUs.
SBI's Historic Q3 Results: Why the ₹21,028 Crore Profit is a Game Changer
The ₹21,028 Crore Milestone
For the first time in history, SBI’s standalone net profit has crossed the ₹21,000 crore mark in a single quarter, marking a 24.5% year-on-year (YoY) growth.
- Net Interest Income (NII): Grew by 9%, reaching ₹45,190 crore.
- Operating Profit :- Witnessed a massive surge of 40% YoY, showcasing incredible operating leverage.
- Asset Quality :- The Gross NPA (Non-Performing Asset) ratio has plummeted to 1.57%, a level seen only in the best of private sector banks.
- Source - Verified via SBI Q3 FY26 exchange filings and official investor disclosures (released Feb 7, 2026).
These figures reflect a significant leap in the bank's operational efficiency. For those who want to examine the detailed balance sheet and the official presentation of these financial results, you can access the full report on the
SBI Investor Relations official portal .
Why this matters for your portfolio:
When the country's largest bank reports such clean asset quality and record profits, it indicates a strong credit cycle in India. For investors, this reduces the "risk premium" usually associated with PSU banks.
2. SBI Share Price Analysis: Current Market Trends (Feb 2026)
As of today, February 9, 2026, the SBI share (SBIN) is trading at approximately ₹1,135.
The market reaction to the Q3 announcement has been phenomenal, with trading volumes spiking on the major exchanges. You can track the real-time price movement, volume, and order book of SBIN directly on the
NSE India official website to stay updated with every tick.
| Key Performance Metric | Value (As of Feb 9, 2026) |
| Current Market Price | ₹1,135.80 |
| 52-Week High | ₹1,136.85 |
| P/E Ratio (Trailing) | ~11.6 |
| Market Capitalization | ₹10.1 Lakh Crore |
| Dividend Yield | 1.6% |
My Technical Take :- Looking at the daily charts today (Feb 9), SBI has formed a strong bullish gap. Staying above the 200-day EMA is a massive sign of strength. If you are looking for an entry, any small correction toward the ₹1,080 zone could be a great opportunity for long-term buyers.
- Note :- A P/E of 11.6 suggests that even at ₹1,135, SBI is still undervalued compared to its private sector peers which often trade at 20+ P/E.
Revised Target Prices for 2026: What Analysts Say
Following the blockbuster earnings, global and domestic brokerages have immediately upgraded their outlook for SBI.
1. Motilal Oswal: Target ₹1,300
The brokerage has maintained a "Buy" rating, citing that SBI's core earnings have outperformed private peers for the third consecutive quarter. They value the bank at 1.4x FY28E Adjusted Book Value.
2. Nuvama Institutional Equities: Target ₹1,250
Nuvama highlighted the "upgraded loan growth guidance." SBI's management has increased its credit growth outlook to 13-15% for the rest of FY26, which is a major signal of confidence in the Indian economy.
3. Nomura: Target ₹1,235
Nomura experts believe that SBI’s Net Interest Margins (NIMs) are more resilient than competitors. Even with deposit competition, SBI has managed to keep its domestic NIM around 3.12%.
Brokerages are optimistic about SBI, but market sentiment also depends on other blue-chip earnings. To discover more growth opportunities and diversify your portfolio, check our briefing on
Yono and Green Energy: How SBI is Future-Proofing its Business
The most exciting part of SBI's 2026 story isn't just banking—it's technology. With nearly 10 crore people using the YONO app, SBI has turned into a digital powerhouse. This shift is significantly lowering their 'Cost-to-Income' ratio, which basically means they are making more money with less physical effort.
- The Yono Factor :- In Q3 FY26, over 68% of new savings accounts were opened via the Yono app. This digital adoption has slashed the bank’s operational costs (Cost-to-Income ratio), directly boosting the bottom line.
- Green Financing :- SBI is now India’s leader in ESG (Environmental, Social, and Governance) lending. Its green energy portfolio has crossed ₹1 Lakh Crore, attracting massive inflows from foreign institutional investors (FIIs) who prioritize sustainable investing.
- Subsidiary Value :- The "hidden" value in SBI Mutual Fund, SBI Life, and SBI Cards continues to provide a safety net to the parent company’s valuation.
Potential Risks: What Could Stop the Rally?
The Deposit Gap :- While loans are growing at 15%, deposits are trailing at 9%. If the bank has to pay more to attract deposits, its margins (NIMs) could face pressure in late 2026.
Global Macro Volatility :- Any sudden change in US Fed rates or geopolitical tensions could lead to FIIs pulling money out of large-cap stocks like SBI.
Conclusion: Is SBI a "Buy" at ₹1,135 ?
The transformation of SBI from a "laggard PSU" to a "leader in profitability" is complete. With a return on equity (ROE) of over 20% and record-low NPAs, SBI is currently one of the most balanced bets in the Indian banking sector.
If you are a long-term investor, every significant dip towards the ₹1,050–₹1,080 level should be seen as an accumulation opportunity. The journey toward ₹1,300 seems well-supported by fundamental earnings.
Frequently Asked Questions (F&Q)
What triggered the sudden spike in SBI share price in February 2026 ?
The primary trigger was the Q3 FY26 results, where SBI reported its highest-ever quarterly profit of ₹21,028 crore and upgraded its loan growth guidance.
What is the expected 52-week high for SBI in 2026 ?
Based on current analyst targets from Motilal Oswal and Nuvama, the stock is expected to test levels between ₹1,250 and ₹1,300 by the end of 2026.
Is SBI's dividend increasing in 2026 ?
Given the record profits and improved capital adequacy (CRAR), there is high market anticipation that SBI may declare a significantly higher dividend during its annual results in May 2026.
What are the support levels for SBI shares ?
Technical analysts suggest immediate support at ₹1,007 and a major psychological support at ₹1,000.
Investing in the stock market involves inherent risks, and it is essential to stay informed about investor protection guidelines. I always recommend following the educational resources and safety norms provided by
SEBI (Securities and Exchange Board of India) to ensure your investment journey remains secure and disciplined.
Disclaimer
The analysis provided on allroundupdate.com is for informational and educational purposes only. It should not be considered as financial or investment advice. Stock market investments are subject to market risks. Please perform your own research or consult a SEBI-registered financial advisor before making any investment.
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