Prior to Q2FY23 results, SBI adds 2% to reach a new 52-week high

3 Nov 2022 , 02:58 PM

In intraday trade on Thursday, shares of State Bank of India (SBI) rose 2% to a new high of Rs587.9 per share, ahead of the results for the July-September quarter (Q2FY23). The state-owned lender’s stock rose above the Rs586.1 all-time high it had previously reached on October 25, 2022. In the previous month, it outpaced the market, rising 14% compared to the S&P BSE Sensex’s 7% increase.

The SBI board of directors will meet on Saturday, November 5, 2022, to discuss the bank’s financial performance for the three months and six months ended on September 30, 2022. The PSU banks have so far reported solid operational performance with improvements in asset quality in their Q2 earnings statements.

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