SBT drops as rights shares admitted for trading

State Bank of Travancore fell 2.03% to Rs 428 at 11:37 IST on BSE as 1.18 crore rights equity shares allotted to the shareholders were admitted for trading on the bourses today, 17 April 2015.

Meanwhile, the S&P BSE Sensex was down 70.87 points or 0.25% at 28,595.17.

On BSE, so far 6,664 shares were traded in the counter as against average daily volume of 11,835 shares in the past one quarter.

The stock hit a high of Rs 441 and a low of Rs 428 so far during the day. The stock had hit a 52-week low of Rs 370.09 on 8 May 2014. The stock had hit a 52-week high of Rs 630.68 on 11 June 2014.

The stock had underperformed the market over the past one month till 16 April 2015, sliding 3.81% compared with Sensex's 0.8% rise. The scrip had also underperformed the market in past one quarter, declining 16.25% as against Sensex's 1.93% rise.

The mid-cap public sector bank has equity capital of Rs 71.10 crore. Face value per share is Rs 10.

It may be recalled that State Bank of Travancore (SBT) on 15 April 2015 said it has allotted 1.18 crore equity shares at Rs 400 per share on rights basis in the ratio of 1:5.

State Bank of Travancore's net profit jumped 403.7% to Rs 74.34 crore on 1% growth in total income to Rs 2627.06 crore in Q3 December 2014 over Q3 Decmber 2013.

The Government of India held 78.91% stake in State Bank of Travancore (as per the shareholding pattern as on 31 December 2014).

Powered by Capital Market - Live News