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State Bank of India surges higher on the bourses

16 Dec 2011 Evaluate

State Bank of India is currently trading at Rs. 1765.80, up by 21.30 points or 1.22% from its previous closing of Rs. 1744.50 on the BSE.

The scrip opened at Rs. 1753.90 and has touched a high and low of Rs. 1782.45 and Rs. 1736.00 respectively. So far 289772 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2959.90 on 25-Apr-2011 and a 52 week low of Rs. 1629.10 on 24-Nov-2011.

Last one week high and low of the scrip stood at Rs. 1895.80 and Rs. 1734.00 respectively. The current market cap of the company is Rs. 110775.57 crore.

The promoters holding in the company stood at 59.40% while Institutions and Non-Institutions held 27.19% and 10.56% respectively.

State Bank of India, the nation's largest lender in a bid to expand its footprint overseas has commenced operations in Saudi Arabia with the opening of a branch in Jeddah. Deputy Governor for Technical Affairs, Saudi Arabian Monetary Agency, Abdulrahaman Al kalaf formally inaugurated the branch on December 14, 2011 in presence of the SBI managing directors and group executives.

The branch will offer a bouquet of banking services to the around two million Indian residents of Saudi Arabia. It will also offers remittance facility for Indians residents in Saudi Arabia. 

The bank’s net profit for the quarter has registered growth of 12.36% at Rs 2,810.43 crore whereas the same was at Rs 2,501.37 crore for the quarter ended September 30, 2010.  Bank’s total income has increased by 23.44% at Rs 29,394.32 crore for the quarter under review whereas the same was at Rs 23,813.30 crore for the corresponding of the previous fiscal.

SBI Share Price

1035.65 -31.05 (-2.91%)
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Peers
Company Name CMP
SBI 1035.65
PNB 108.60
Canara Bank 136.35
Bank Of Baroda 269.10
Union Bank Of India 181.80
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