State Bank Of India

State Bank of India is currently trading at Rs. 2237.00, up by 111.90 points or 5.27% from its previous closing of Rs. 2125.10 on the BSE.

The scrip opened at Rs. 2150.00 and has touched a high and low of Rs. 2252.50 and Rs. 2132.05 respectively. So far 6, 93,000 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. 1576.00 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 2470.00 and Rs. 2114.20 respectively. The current market cap of the company is Rs. 1, 42,049 crore.

The promoters holding in the company stood at 59.40% while Institutions and Non-Institutions held 26.58% and 11.17% respectively.

State Bank of India (SBI), country’s largest public sector lender has reduced the interest rates on education loans by 25-100 basis points decreasing the margin above the ase rate for the loan as it has retained its base rate at 10%. The bank has taken this decision following the announcement of the third quarter monetary policy in January, when the Reserve Bank of India had cut the Cash Reserve Ratio by 50 basis points. The bank aims at softening lending rates in some select segments which are seeing good growth and have lower delinquencies. As on December end, SBI's education loan portfolio was to the tune of Rs 12,402 crore.

SBI has reported a better-than expected net profit of Rs 3,263 crore for the quarter ended December 2011, up 15.38% from Rs 2,828 crore in the corresponding quarter last year. Profits were driven by an improvement in net interest margin which widened to 4.05% from 3.61% a year ago.