State Bank of India (SBI) shares rose 1.4 percent to Rs 984 in early trade on Wednesday, emerging as the top gainer on the Nifty 50, as brokerages largely maintained positive ratings on the country's largest lender following its Q2 FY27 results. Stronger net interest margins, healthy loan growth and improving asset quality supported the positive outlook, although some brokerages flagged weaker underlying operating earnings and the contribution of exceptional gains to reported profit.
The stock rebounded after closing 1.7 percent lower on Tuesday, following the announcement of its September-quarter earnings. SBI shares have declined 0.8 percent so far in 2026, compared with an 8.9 percent fall in the Nifty 50. The bank's market capitalisation stood at Rs 9.01 lakh crore.
At 9:17 am, the Sensex was up 187 points, or 0.24 percent, at 77,104, while the Nifty gained 34 points, or 0.14 percent, to 23,844.
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SBI reported a 14.3 percent year-on-year (YoY) increase in net profit to Rs 23,038 crore for the September quarter, beating the CNBC-TV18 poll estimate of Rs 22,859 crore. The bank reported an exceptional gain of Rs 7,289 crore, compared with Rs 4,593 crore a year earlier. Net interest income (NII) rose 14.7 percent YoY to Rs 49,143 crore, exceeding estimates, while domestic net interest margin improved 11 basis points sequentially to 3.11 percent.