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SBI associate banks decline on profit booking

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(down 1.48%), State Bank of Bikaner and Jaipur (down 3.89%) and (down 4.84%) declined. Shares of India's largest commercial bank by branch network State (SBI) fell 0.88% to Rs 2,299.

State Bank of Bikaner and Jaipur lost 3.89% to Rs 450.50. The stock fell on high volume of 1.58 lakh shares as against an average daily volume of 14,768 shares in the past one quarter. The stock had surged 13.66% to Rs 468.75 after scaling a 52-week high of Rs 491.60 in intraday trade on Monday, 10 December 2012.

State Bank of Travancore fell 4.84% to Rs 589.25. The stock fell on high volume of 66,000 shares as against an average daily volume of 6,458 shares in the past one quarter. The stock had surged 14.53% to Rs 619.20 on Monday, 10 December 2012.

State Bank of Mysore fell 1.48% to Rs 688.20. The stock reversed direction after scaling a 52-week high of Rs 734.65 in intraday trade today, 11 December 2012. The stock slipped on high volume of 65,000 shares as against an average daily volume of 2,367 shares in the past one quarter. The stock had surged 17.39% to Rs 698.55 on Monday, 10 December 2012.

As at 30 September 2012, owned 75.07% stake in State Bank of Bikaner and Jaipur, 75% in State Bank of Travancore and 92.33% in State Bank of Mysore.

There are five associate banks of SBI of which State Bank of Hyderabad and State Bank of Patiala are unlisted. SBI had merged its associate State Bank of Saurashtra with itself in 2008. State Bank of Indore was merged with SBI in 2010.

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