SBI's Stock Hits 52-Week High, Receives 'Buy' Call from MarketsMOJO

State Bank of India (SBI), one of the largest public banks in India, has recently reached a new milestone with its stock price hitting a 52-week high on February 15, 2024. This positive development has been noted by MarketsMOJO, who have given a 'Buy' call for the stock.

The stock price of SBI has been on an upward trend, with the latest high of Rs.752.75 being the highest in the past 52 weeks. Despite underperforming the sector by -0.9% today, the stock has shown consistent growth over the past 3 days, with a 5.4% increase in returns during this period.

Moreover, SBI's stock is currently trading higher than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong performance in the market. This is further supported by the fact that SBI's 1-year performance has been 37.38%, which is significantly higher than the Sensex's performance of 17.05%.

This positive trend in SBI's stock price can be attributed to the bank's strong financials and consistent growth in the past year. With its wide reach and strong customer base, SBI continues to be a leading player in the public banking industry. Investors can take note of this positive development and consider adding SBI to their portfolio.