Are these low-P/E bluechip stocks really a bargain?
State Bank of India flagged a risk in a quarterly results development.
· LiveMint Markets
A low P/E multiple may look attractive but doesn’t guarantee a good deal. Here is how to evaluate the earnings quality, margins, and growth risks behind SBI, Hindustan Zinc, and M&M.
The analysis
Against that, the stock is -1.0% on the day at ₹961.85, and has returned -6.2% over three months. It sits 22% below its 52-week high. The banks sector has moved -6.0% over the same period, so State Bank of India is running 0.2 points behind 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.
- On the day, 0 of 2 are higher: State Bank of India (SBI) leads at -1.0% and Hindustan Zinc trails at -2.1%.
- Over three months: State Bank of India (SBI) -6.2% against Banks -6.0% (0.2 points behind); Hindustan Zinc -5.6% against Metals & Mining -9.5% (3.9 points ahead).
- At least 25% below the 52-week high: Hindustan Zinc (30%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| State Bank of India (SBI)SBIN · Banks | ₹961.85 | -1.0% | +0.2% | -6.2% | -21.7% | 0.9× | — |
| Hindustan ZincHINDZINC · Metals & Mining | ₹505.80 | -2.1% | -10.6% | -5.6% | -30.4% | 1.0× | — |
Banks
1M -3.4% · 3M -6.0%
State Bank of India (SBI)
Metals & Mining
1M -9.3% · 3M -9.5%
Hindustan Zinc
Prices as of 30 Oct 2026, 16:11 IST. Sector moves are the average of the stocks we track in each sector.
In this story
Related coverage
Diwali stocks 2026: Tata Steel, MCX, IHCL and 8 more to add sparkle to shares portfolio in Samvat 2083 | Full list
No. 2 on Day 1: How Jio Platforms broke India’s market cap hierarchy on debut itself
Vedanta Oil and Gas swings to ₹746 crore profit in Q2 despite output dip
Q2 results impact: 2 Vedanta stocks rally up to 14% after Sept quarter earnings. How have they performed since demerger?
Coal India Q2 net profit jumps 57% to ₹6,547 crore on higher realisations