In this video, market expert Nilesh Jain, Head VP – Technical and Derivatives Research at Centrum, addresses an important investor query on HDFC Bank and State Bank of India. With Meera holding HDFC Bank at ₹995 and SBI at ₹955, the discussion focuses on whether investors should remain bullish on banking stocks or consider diversifying into other sectors. Nilesh Jain shares his outlook for 2026, highlighting continued momentum in banks and NBFCs, while also pointing out that heavyweight stocks like HDFC Bank may deliver steady, long-term returns rather than sharp rallies. He also explains why SBI could offer stronger upside potential, how investors can use market corrections to their advantage, and why both private and PSU banks remain high-quality portfolio bets from a long-term perspective.
The brokerage calls SBI the best performer among large banks, citing its ability to 2x the balance sheet every 6 years. With a credit growth guidance of 12-14% for FY26 and margins expected to sustain above 3%.
India's most-valued PSU at Rs 9.67 lakh crore is the brokerage's preferred 'Buy' in the banking sector. MOFSL suggested a target price of Rs 1,100 on the SBI stock. The scrip settled at Rs 975.90 on Wednesday.
ICICI Securities said the current trajectory resembled the 2001–2004 phase, which preceded an exponential growth period. It likes State Bank of India, Axis Bank, Larsen & Toubro, BHEL, JSW Energy, NTPC and RIL.
In the September quarter, banks had delivered some margin related surprises, with many of them reporting an earlier-than-expected recovery, even after absorbing the full impact of the 50 bps rate cut in June 2025.
YES Securities said BoM has the highest 3-year loan growth CAGR in its comparison universe of PSU banks. BoM's asset quality is largely under control and provision levels are quite healthy, it said.
Chaturmohta said a few PSU banks have posted 13-15 per cent credit growth. Their net NPA numbers or the slippage ratios, are broadly in line with private peers, he said.
At last check, SBI shares were trading 0.42 per cent higher at Rs 961.10, having gained in 16 of the past 19 sessions.
SBI share price today: SBI shares approached their record high of Rs 953.15 reached on November 3 this year.
Canara Bank confirmed a breakout of multiple resistance levels near Rs 130 on the weekly chart and registered an all-time high at Rs 138, signalling the continuation of the medium-term uptrend.
SBI Mutual Fund’s total holding stood at 6,02,78,204 shares, or 6.76 per cent of the company’s paid-up share capital. The previous disclosure had shown the fund’s holding at 9.23 per cent as of April 26, 2024.





