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Jefferies initiates SBI Funds Management coverage with Buy; sees 26% upside

Jefferies initiated coverage on SBI Funds Management with a Buy rating and a Rs 710 price target, implying 26% upside. The brokerage expects operating profit to grow at a 15% CAGR through FY29, supported by rising mutual fund assets, SBIs distribution network and operating leverage. Strong B30 presence and lower operating costs further support the asset managers growth

28 Aug 2026 12:22 pm