SBI shares up over 6%; mcap rises by Rs 16,789.92 cr on Q2 nos

Shares of SBI today soared over 6

per cent, adding Rs 16,789.92 crore to market valuation, after

the company posted multi-fold jump in consolidated net profit

for the second quarter ended on September 30.

The stock jumped 6.20 per cent to settle at Rs 333.20 on

BSE. During the day, it surged 7.77 per cent to Rs 338.15.

At NSE, shares of the company advanced by 6.32 per cent

to close at Rs 333.55.

Led by the rally in the stock, the company's market

valuation surged Rs 16,789.92 crore to Rs 2,87,619.92 crore.

In terms of equity volume, 76.46 lakh shares of the

company were traded on BSE and over 8 crore shares changed

hands at NSE during the day.

The stock was the top performer among the bluechips on

both the indices during the day.

The country's largest lender SBI today posted multi-fold

jump in consolidated net profit at Rs 1,840.43 crore for the

second quarter ended on September 30, boosted by sale of its

stake in SBI Life Insurance.

Its profit was just Rs 20.70 crore during the same

quarter of the last financial year.

On standalone basis, SBI's profit declined by 37.9 per

cent to Rs 1,581.55 crore, from Rs 2,538.32 crore on account

of rise in bad loans.

Total income on standalone basis increased to Rs

65,429.63 crore in July-September 2017 against Rs 50,742.9

crore in the same period a year ago, State Bank India said in

a filing to stock exchanges.

As of September 30, the bank's gross NPAs deteriorated to

9.83 per cent of gross advances, compared with 7.14 per cent

year a year ago. Similarly, the net NPAs rose to 5.43 per cent

from 4.19 per cent.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)