India's SBI drops as brokerages flag margin pressure after quarterly miss
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Shares of State Bank of India (SBI) fell 4% on May 11, reaching 977.7 rupees, the lowest in six weeks. Brokerages expressed caution regarding SBI's earnings outlook following disappointing March-quarter results, which revealed pressure on core earnings and margins. This decline made SBI the largest contributor to the 1.8% drop in the Nifty PSU Bank index.
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