SBI share price hits new all-time high, now on brink of crossing ₹1,000 mark for first time

SBI share price in focus today: State Bank of India (SBI), the country’s largest public sector lender, saw its shares rise 1.6% in Wednesday's trade, November 26, to touch a record high of ₹999 apiece. With this, the PSU bank stock inched closer to breaching the ₹1,000 mark for the first time.

The state-owned lender has been on a sustained bull run since late August and has zoomed 25% so far, which also prompted the company's market capitalisation to surge past ₹9 lakh crore.

Taking the stock's record high today into account, the market capitalisation of SBI has reached ₹9.22 lakh crore, making it the sixth most-valuable company in the Indian stock market, and if the momentum in the shares extends in the coming weeks, it may even cross ICICI Bank's market capitalisation of ₹9.80 lakh crore.

Among banking stocks, HDFC Bank retains its top position as the most-valuable company with a market capitalisation of ₹15.4 lakh crore, as per the BSE data.

SBI set to post fifth consecutive yearly rise

The recent run-up in SBI stock has also pushed its year-to-date return to 25%, putting it on track for the fifth straight year of positive returns.

Although the stock initiated its bull run in late August, it accelerated following the release of the September quarter numbers, which came in higher than analysts' estimates, and the bank also gave an upbeat outlook by raising its credit growth forecast.

The credit demand in the system has shown signs of improvement, supported by multiple policy measures announced by both the RBI and the government, including repo rate cuts and GST reductions aimed at boosting consumption, particularly in urban India.

Furthermore, improving asset quality, along with net interest margins (NIMs) stabilizing, has made PSU banks increasingly attractive to Dalal Street investors.

Following the expansion of its loan book by 12.73% YoY to ₹44.2 lakh crore in Q2FY26, the bank raised its credit growth forecast to 12–14% for the current fiscal year, up from its earlier guidance of 11–12%.

Technical View: SBI breaks out, eyes ₹1,050 target, says analyst

Anshul Jain, Head of Research at Lakshmishree, said that SBI broke out of a flat base at ₹838 and is now steadily moving toward its pattern target of ₹1,050, supported by strong momentum at the current market price of ₹993.

He observed that the trend structure remains intact, and any dip toward the 20-day EMA near ₹955 should be viewed as a fresh buying opportunity, as the stock has consistently respected this moving average during its uptrend.

Jain also noted that the recent run-up has been sharp and momentum indicators are stretched, so traders should stay cautious at current levels. He added that position sizing and disciplined entries become important as the stock inches closer to its target zone.

SBI Q2 Performance

The PSU bank reported a net profit of ₹20,160 crore in Q2, a 10% year-on-year improvement compared to ₹18,331 crore in the July–September quarter a year ago.

The net interest income (NII) during the period increased to ₹1,19,654 crore from ₹1,13,871 crore in the same quarter a year ago. The net interest margin (NIM) contracted by 18 basis points year-on-year but expanded by 7 basis points quarter-on-quarter to 3.09%.

On the asset quality front, gross non-performing assets (NPAs) declined to 1.73% of gross advances as of September 30, 2025, from 2.13% a year ago. Similarly, net NPAs, or bad loans, also declined to 0.42% of advances from 0.53% in the year-ago period.

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