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SBI Share Price Hits 52-Week Low After InCred Equities Downgrade

SBI Share Price Hits 52-Week Low After InCred Equities Downgrade

State Bank of India (SBI) shares dropped 1.47% to a 52-week low of ₹710.90 after InCred Equities downgraded the stock to 'Hold' from 'Add.' The brokerage firm cited concerns over the sustainability of SBI’s 16-17% return on equity (RoE) and lower recoveries from the write-off pool compared to peers. The target price was slashed from ₹1,100 to ₹795, indicating a potential 10.17% upside from the last close of ₹721.55. At 9:47 AM, SBI was trading at ₹717.30, while the BSE Sensex was down 0.75% at 74,744 points.

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