SBI rises after Q2 results

State Bank of India rose 2.71% to Rs 1720.85 at 13:10 IST on BSE after net profit fell 35.08% to Rs 2375.01 crore on 12.89% increase in total income to Rs 37,199.92 crore in Q2 September 2013 over Q2 September 2012.

The result was announced during trading hours today, 13 November 2013.

Meanwhile, the BSE Sensex was up 53.28 points, or 0.26%, to 20,335.19.

On BSE, 6.59 lakh shares were traded in the counter compared with average volume of 4.70 lakh shares in the past one quarter.

The stock hit a high of Rs 1,735 and a low of Rs 1,653.40 so far during the day. The stock hit a 52-week high of Rs 2,550 on 10 January 2013. The stock hit a 52-week low of Rs 1,452.90 on 28 August 2013.

The stock had outperformed the market over the past one month till 12 November 2013, rising 1.44% compared with the Sensex's 1.20% fall. The scrip had, however, underperformed the market in past one quarter, rising 4.40% as against Sensex's 7.05% rise.

The large-cap company has an equity capital of Rs 684.03 crore. Face value per share is Rs 10.

State Bank of India's ratio of net non-performing assets (NPA) to net advances stood at 2.91% as on 30 September 2013, compared with 2.83% as on 30 June 2013 and 2.44% as on 30 September 2012.

The bank's ratio of gross NPA to gross advances stood at 5.64% as on 30 September 2013, compared with 5.56% as on 30 June 2013 and 5.15% as on 30 September 2012.

Provisions and contingencies rose 65.90% to Rs 3028.74 crore in Q2 September 2013 over Q2 September 2012. The provisioning coverage ratio as on 30 September 2013 stood at 60.16%.

The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 11.69% as on 30 September 2013, compared with 11.85% as on 30 June 2013.

Government of India holds 64.08% stake in State Bank of India (as on 30 September 2013).

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