SBI shares: Why brokerages are bullish on the bank stock despite Q1 miss
SBI reported a decline in Q1 net profit on account of mark-to-market (MTM) losses
Shares of State Bank of India (SBI) plunged over 2% in Monday's early deals after the country's largest lender reported a 6% drop in its standalone net profit at ₹6,068 crore for the quarter ended June, missed estimates, on account of mark-to-market (MTM) losses. Net Interest Income (NII) increased by nearly 13% to ₹31,196 crore from ₹27,638 crore.
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