State Bank of India shares surged to record highs on Monday after the country's largest lender reported a 24.5% year-on-year jump in standalone net profit to 210.28 billion rupees ($2.32 billion) for the December quarter of fiscal 2026. The strong earnings performance, driven by solid net interest income growth and robust non-interest income metrics, boosted investor confidence across broader markets.

NSE-listed shares jumped as much as 6.6% to an all-time peak of 1,130 rupees, outperforming both the Nifty 50 and Nifty Bank indices. Net interest income, a key driver of bank profitability, expanded about 9% to 451.90 billion rupees as robust loan growth supported core income, while net interest margin remained steady at 3.12%.

The bank also raised its credit growth guidance for the full year to 13-15%, up from the previous 12-14% range, reflecting healthy demand dynamics in both retail and corporate segments. This upward revision signals strong momentum in India's banking sector and suggests continued economic activity despite global headwinds.