The gaining streak of the State Bank of India (SBI) continues almost over a week after its fourth-quarter results' announcement. India’s largest lender on Tuesday hit a new 52-week high of Rs 435.20 per share on the BSE, surging over two per cent in Tuesday's intra-day trade. 

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The government-owned bank in the last one week had touched new 52-week highs for three-time, including today. Its previous high was Rs 433.60 on May 28, 2021. 

SBI on May 21, 2021, had reported a jump of 80 per cent in its profit to Rs 6,451 crore in the fourth quarter of the financial year 2020-2021 as against Rs 3,551 crore for the same period year ago. While the bank also showed further sequential improvement in assets quality. 

Outperforming the market, the shares of SBI have soared by over six per cent in the last five days, whereas it has jumped around 25 per cent in the last month. SBI is currently trading at day’s high levels at Rs 433 apiece. 

Amid a sharp rally in the market price, the PSU (public sector unit) bank’s market capitalisation grew and is now just 4 per cent away from the momentous Rs 4-trillion mark. At around 3:00 pm, the stock was up over two per cent at Rs 433 with a market capitalisation of Rs 3.85 trillion, BSE data shows. 

The majority of brokerages such as JP Morgan, CLSA, and Goldman Sachs have maintained a Buy rating on SBI with a target price of up to Rs 650 per share.  

CLSA sees visibility of 15 per cent ROE (return on equity), which is at its highest so far, and terms it as best in class stock which at PSU (public sector unit) price. While Goldman said SBI has reported a decade-best asset quality and improvement in RoA (return on assets) on expanding retail portfolio.