SBBJ vaults as board to consider interim dividend

State Bank of Bikaner and Jaipur gained 3.2% to Rs 301.50 at 14:03 IST on BSE after the bank scheduled a board meeting to consider declaration and payment of interim dividend for financial year ending 31 March 2014.

Meanwhile, the BSE Sensex was up 43.67 points, or 0.2%, to 21,876.28

On BSE, so far 51,236 shares were traded in the counter as against an average daily volume of 7,361 shares in the past one quarter.

The stock hit a high of Rs 309.80 and a low of Rs 295 so far during the day. The stock had hit a 52-week high of Rs 449 on 10 June 2013. The stock had hit a 52-week low of Rs 281.90 on 4 March 2014.

The stock had underperformed the market over the past one month till 18 March 2014, rising 0.36% compared with the Sensex's 5.81% rise. The scrip had also underperformed the market in past one quarter, sliding 6.97% as against Sensex's 4.66% rise.

The small-cap company has an equity capital of Rs 70 crore. Face value per share is Rs 10.

After market hours on Tuesday, 18 March 2014, State Bank of Bikaner and Jaipur (SBBJ) said the bank has scheduled a meeting of the Board of Directors on 25 March 2014 to consider declaration and payment of interim dividend for financial year ending 31 March 2014. Meanwhile, the state-run bank during market hours today, 19 March 2014 said it has fixed 31 March 2014 as the Record Date for the purpose of payment of interim dividend, if declared.

SBBJ's net profit fell 29.4% to Rs 151.97 crore on 9.9% growth in total income to Rs 2288.78 crore in Q3 December 2013 over Q3 December 2012.

State Bank of Bikaner and Jaipur is an affiliate of State Bank of India (SBI), which is India's biggest commercial bank in terms of branch network. SBI holds 75.07% stake in State Bank of Bikaner and Jaipur (as per the shareholding pattern as on 31 December 2013).

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