SBI Q2 preview: NII to rise 11-13%; margin to hold on lower FCNR(B) flows
State Bank of India left its position unchanged in a quarterly results development.
· Business Standard Mkts, ET Stocks, Economic Times Markets
Overall, analysts see a 11-13 per cent year-on-year (YoY) growth in SBI's Q2 NII, while analysts diverge on the profit trajectory.
The analysis
State Bank of India reported movement of -13%. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is +2.6% on the day at ₹987.00, and has returned -3.9% over three months. It sits 20% below its 52-week high. The banks sector has moved -6.0% over the same period, so State Bank of India is running 2.1 points ahead of its peers.
For State Bank of India, the question is how much of this is already reflected in the price and how much re-rates the banks peer set alongside it.
Why it matters
- Earnings versus expectations is what actually re-rates a stock; the surprise matters more than the absolute number.
Market context
- In focus: State Bank of India (SBI) (SBIN), in Banks.
- Over three months: State Bank of India (SBI) -3.9% against Banks -6.0% (2.1 points ahead).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| State Bank of India (SBI)SBIN · Banks | ₹987.00 | +2.6% | +3.5% | -3.9% | -19.6% | 1.1× | — |
Banks
1M -2.4% · 3M -6.0%
State Bank of India (SBI)
Prices as of 2 Nov 2026, 16:11 IST. Sector moves are the average of the stocks we track in each sector.
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